If we compare income percentages of total income of the highest quintile in 1968 with 2008, we would find that it was
A. rising.
B. staying about the same.
C. falling.
A. rising.
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Suppose that in 2011, 4 million plasma TVs were purchased at $950 each, while in 2012, 3 million plasma TVs were purchased at $800 each. What might have caused this change?
A) The price of LCD TVs (a substitute for plasma TVs) fell. B) The price of LCD TVs (a substitute for plasma TVs) rose. C) Plasma TV manufacturing technology decreased. D) Plasma TV manufacturing technology increased.
Refer to the table above. If the market is perfectly competitive, the equilibrium quantity of calculators is:
A) 3 units. B) 5 units. C) 6 units. D) 8 units.
The interest rate that commercial banks charge each other for loans of reserves to meet their minimum reserve requirements is called:
A) treasury bill rate. B) federal funds rate. C) prime interest rate. D) none of the above.
Soft budget constraints will lead to
a. inefficiency b. quick responses to changes in supply and demand c. good investment decisions d. high product quality e. managers eager to satisfy consumer demand rather than production quotas