Between 1995 and 2007 in the United States:
A. average U.S. household wealth increased and median household wealth declined.
B. average U.S. household wealth declined and median household wealth increased.
C. both average and median U.S. household wealth declined.
D. both average and median U.S. household wealth increased.
Answer: D
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Union membership will be more attractive from the worker's viewpoint if
a. the demand for the union labor is highly inelastic. b. the supply of union labor is highly elastic. c. only a few of the firms in the industry are unionized. d. the membership dues charged by the union are extremely high.
Government-backed deposit insurance ________
A) protects "good" banks from the misdeeds of "bad" banks B) is intended to encourage banks to pursue high-risk activities C) is an example of prudential regulation D) is an example of government-directed credit
The structural deficit is the deficit that
a. is composed by of nondiscretionary spending by the federal government. b. results from the economy being below its natural rate of output. c. exists when output is at its natural rate of output. d. results from temporary tax cuts. e. all of the above
An "all you can eat" restaurant illustrates the economic principle:
a. of consumers' inability to maximize their total utility. b. that economic theory clearly breaks down under certain circumstances. c. that marginal utility is always positive. d. that consumers will stop eating when marginal utility is zero. e. that consumers will stop eating when total utility is zero.