.Which of the following is most likely true when household debt as a share of income is abnormally high?
What will be an ideal response?
The growth of consumption is likely to remain sluggish even as the economy begins to recover
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Country A has a more equal distribution of income than country B if
A) country A's Lorenz curve is closer to the line of equality than is country B's Lorenz curve. B) country B's Lorenz curve is closer to the line of equality than is country A's Lorenz curve. C) country A's Lorenz curve is just as close to the line of equality as is country B's Lorenz curve. D) None of the above because it is impossible to compare income inequalities across countries.
The generosity of the U.S.'s foreign aid after World War II was:
A. unprecedented. B. over $12 billion to 16 countries in an effort to help them rebuild. C. not entirely altruistic and had strategic political motives as well. D. All of these statements are true.
A medium of exchange is
A. any asset that sellers will accept as payment. B. an asset that is used to settle future debts. C. the thing traded when barter takes place. D. a measure by which prices are expressed.
People view alcohol and marijuana as perfect substitutes. This means that
A) individuals will consume either alcohol or marijuana, but not both, regardless of price. B) as the price of alcohol decreases, marijuana use decreases. C) the marginal utility for alcohol and marijuana is constant. D) Both B and C.