Over 17 million American households had a net worth over $1 million. This means:
A. their total income minus expenses was greater than $1 million.
B. the Lorenz curve would show $1 million for over 17 million households.
C. their assets minus liabilities were greater than $1 million.
D. more than $1 million flowed through the accounts of over 17 million households.
Answer: C
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If the required reserve ratio is 15 percent, there is no currency drain, and banks loan all of their excess reserves, an increase in the monetary base of $20,000 leads to a total increase in the quantity of money of
A) $200,000. B) $133,333. C) $3,000. D) $20,000. E) $300,000.
The Great Depression that started in 1929 was
A) confined only to the United States. B) confined only to the United States and Britain. C) confined only to the United States and Europe. D) a global phenomenon. E) confined only to the Americas.
Since monopolists that practice price discrimination generally increase market output, compared to a monopoly that charges a single price, practicing price discrimination generally leads to a smaller deadweight loss
a. True b. False Indicate whether the statement is true or false
Normal profit is zero when a firm's revenues just cover its economic cost.
Answer the following statement true (T) or false (F)