Census data indicate that, as of 2014, the top fifth of all households receive about ________ times as much income as the bottom fifth.
A. sixteen
B. twelve
C. eight
D. three
Ans: A. sixteen
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If watermelons are normal goods, the demand for them will rise as the income of consumers rises
a. True b. False Indicate whether the statement is true or false
What is the immediate effect when Bank A lends $1,000 to a local business?
a. The money supply increases by $1,000. b. The money supply decreases by $1,000. c. Bank A's liability increases by $1,000. d. Bank A's excess reserves increase by $1,000. e. Bank A's demand deposits decrease by $1,000.
If Norway sold more goods and services abroad than it purchased from abroad, then it had
a. positive net exports which is a trade surplus. b. positive net exports which is a trade deficit. c. negative net exports which is a trade surplus. d. negative net exports which is a trade deficit.
Assuming an economy is initially at potential output, in the long run, an expansionary monetary policy is expected:
A. not to affect output in either the short run or the long run. B. to affect output in both the short run and the long run. C. not to affect output in the long run. D. to affect output, but only in the long run.