In 2012, the top one-fifth of U.S. households earned ________ of the nations total income
A) about 22%
B) just under 35%
C) just over half
D) almost 90%
C
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An increase in nominal GDP could result from an increase in
i. production. ii. prices. iii. subsidies. A) i only B) ii only C) i and ii D) i and iii E) i, ii, and iii
Generally, most of the world’s industrial countries believe that central banks should be independent of their governments.
Answer the following statement true (T) or false (F)
In the short run when output is zero, total cost is:
a. equal to total variable cost. b. greater than total fixed cost. c. equal to total fixed cost. d. less than total fixed cost. e. less than total variable cost.
Which of the following would be a private cost of smoking to a cigarette smoker?
a. cost to a private firm of the higher health insurance premiums due to the hiring of a smoker b. cost to a private firm of the reduced productivity of a smoker, who misses days of work as a result of smoking c. cost to the city of extra park lawn cleanup due to the presence of cigarette butts d. price of a pack of cigarettes e. cost to the government to pay the hospital expenses of indigent private smokers