Based on annual before-tax incomes data, about how many percent of U.S. households had annual incomes of $100,000 or more in 2011?
A. 5 percent
B. 10 percent
C. 20 percent
D. 33 percent
C. 20 percent
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According to the text, what best explains the price for federal land that would have maximized real GNP?
a. Some price above zero that maximizes government revenues to be redistributed fairly to the people. b. Some price above zero that minimizes negative environmental externalities. c. A price equal to zero that eliminates the welfare loss associated with land not used for production. d. A subsidized price that distributes land based on egalitarian principles.
Which component of aggregate demand is involved in the interest rate effect caused by a price level change?
a. government purchases b. investment spending c. consumer spending d. net exports
Backorders occur when you do not have inventory in stock and your customer . . . ?
a. Switches to a different brand. b. Decides to keep their business with your organization and wait for the desired product. c. Cancels the order because she decides she has enough inventory all ready. d. Decides to take her future business elsewhere. e. Either A or D
Which of the following statements is true?
A) In a closed economy, government spending equals zero. B) A nation with a high savings rate will accumulate capital rapidly. C) A nation with a high savings rate will accumulate capital slowly. D) In a closed economy, aggregate consumption equals zero.