In 2010, the top 1% of households in the U.S. owned about how many percent of total wealth in the nation?
A. 20%
B. 10%
C. 35%
D. 50%
C. 35%
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Which of the following changes does NOT shift the short-run aggregate supply curve?
A) an increase in the price level B) an increase in technology C) an increase in the quantity of capital D) an increase in the money wage rate
Using estimates of past returns, which monthly investment is most likely to result in the largest amount of money at retirement for a person in the early 20s?
A) CDs B) Treasury bills C) stocks D) all of the above will result in a similar amount of money
Which one of the following individuals would be classified as structurally unemployed?
A) Joe was laid off by by his construction company because there was a reduction in the number of houses built in the winter. B) Gail lost her job with the state because there was a reduction in the state budget. C) Tommy lost his job when the steel mill where he worked was closed because domestic producers would not produce as efficiently and cheaply as foreign firms. D) Fay lost her job in early January when the Christmas store where she worked was closed.
For each interest rate, the LM curve illustrates the level of output where
A) the goods market is in equilibrium. B) inventory investment equals zero. C) money supply equals money demand. D) all of the above E) none of the above