As of 2011, the single largest asset category in the net worth portfolios of households is:
A. government and corporate bonds
B. stocks and mutual fund shares
C. consumer durable goods
D. housing
Answer: D. housing
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The Federal Deposit Insurance Corporation insures
A) banks against lawsuits. B) the deposits held in the Fed. C) the federal funds market. D) the deposits held in member banks.
If a prospective employee is not offered his/her reservation utility or reservation wage, then he/she will
A. tend to look for another job or withdraw from the labor market. B. seek a larger fringe benefit package. C. accept the job because a wage below the reservation utility is very attractive. D. use the job as the basis for a career, assuming that wages will increase beyond the marginal revenue product over time.
According to supply-side economists, lower marginal tax rates will not necessarily lead to lower tax revenues because
A. the lower marginal tax rates will be applied to a growing tax base due to a higher output level. B. the crowding out effect does not apply to taxes. C. the aggregate supply curve will shift inward to the left if the tax rates are lowered. D. lower tax rates have no effect on the opportunity cost of labor.
What is the formula for the aggregate demand curve?
a. S + T + I + X – M b. C + T + G + X – M c. C + I + G + X – M d. S + I + G + X – M