If we compare income mobility in relative terms, we would measure whether a person's income:
A. is higher than her parents' income.
B. places her higher up in the income distribution than her parents' income.
C. is higher at the end of her career compared to the beginning.
D. rises with age for all people.
B. places her higher up in the income distribution than her parents' income.
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Which of the following is likely to have the narrowest bid-asked spread?
A) A Nasdaq stock B) A U.S. Treasury bill C) A corporate bond D) A Fannie Mae bond
The percentage of a bank's total deposits held in reserves, either as cash in the vault or as deposits at the local Federal Reserve bank, is:
a) the reserve ratio. b) the reserve requirement. c) excess reserves. d) the money ratio.
A monopolistically competitive firm has the free entry characteristics of ________ and the price setting characteristics of ________
A) an oligopolistic market; perfect competition B) perfect competition; a monopoly C) a monopolistic market; a cartel D) perfect competition; perfect competition
If marginal revenue exceeds marginal cost in the short run, total revenue for the perfectly competitive firm is greater than total cost
a. True b. False Indicate whether the statement is true or false