From 1970 to 2006, data representing average real income for U.S. households indicates that the rich have ________ and the poor have ________
A) gotten richer; gotten poorer
B) gotten richer; also gotten richer
C) gotten richer; gotten neither richer nor poorer
D) gotten poorer; also gotten poorer
B
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As more efficient capital equipment becomes available, the demand for labor will ________, the real wage will ________, and the quantity of labor hired will ________
A) increase; increase; increase B) increase; decrease; remain the same C) increase; remain the same; decrease D) increase; remain the same; increase
Traveler's checks are included in
A) M1 only. B) M2 only. C) both M1 and M2. D) neither M1 nor M2.
In a proportional tax system, ________
A) the average tax rate faced by an individual exceeds the marginal tax rate B) the marginal tax rate faced by an individual exceeds the average tax rate C) the average tax rate equals the marginal tax rate D) the marginal tax rate faced by all households are equal
A falling dollar makes U.S. goods
A) more expensive abroad and increases the volume of U.S. exports. B) less expensive abroad and increases the volume of U.S. exports. C) less expensive abroad and decreases the volume of U.S. exports. D) more expensive abroad and decreases the volume of U.S. exports.