Based on U.S. income data from 2011, the top fifth of all families received
a. about 3.8 percent more than the bottom fifth.
b. about 49 percent more than the bottom fifth.
c. approximately 5 times more income than the bottom fifth.
d. more than 12 times more income than the bottom fifth.
d
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The slope of the budget line is equal to the ratio of:
a. marginal utilities. b. money income to the price of the good on the horizontal axis. c. money income to the price of the good on the vertical axis. d. price of the good on the horizontal axis to the price of the good on the vertical axis.
While waiting in line to buy two tacos at 75 cents each and a medium drink for 80 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $2.50. For Jordan, the marginal cost of purchasing the third taco would be
A) 75 cents. B) zero. C) 80 cents. D) 20 cents.
How is inflation typically measured? What are the different types of inflation? Why is it important to know which type of inflation we may be experiencing?
What will be an ideal response?
What's the most common way for a central bank to change the money supply?
A. Buying bonds from or selling bonds to the government B. Buying bonds from or selling bonds to the public C. Using open-market operations D. Changing tax collections