Which statement is true?
A. Income is fairly evenly distributed in the U.S.
B. The richest 1% of our population has nearly 50% of the income.
C. The percentage of Americans below the poverty line has been falling steadily (except for recession) since the 1950s.
D. Eleven percent of the children under six living in a two parent home are poor.
D. Eleven percent of the children under six living in a two parent home are poor.
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Before the nation's first transcontinental railroad was completed, travelers to the Pacific Coast used which forms of transportation?
a. ship, wagon b. dugout canoe, dirigible c. horse d. All of the above are correct.
If the marginal propensity to consume (MPC) in your classmate's nation is 3/5 and the marginal propensity to save (MPS) in your country is 1/10, which of the following must be true?
a. The spending multiplier is larger in your classmate's nation than in your country. b. The spending multiplier is smaller in your classmate's nation than in your country. c. Autonomous consumption is higher in your classmate's nation than in your country. d. Autonomous consumption is lower in your classmate's nation than in your country. e. Total consumption is lower in your classmate's nation than in your country.
If average fixed cost is $2 and average variable cost is $3, total cost is $5.
Answer the following statement true (T) or false (F)
A popular teacher hands out candy bars to her students as an incentive for good behavior. If students choose to, they could then trade one candy bar for a sheet of stickers or two candy bars to skip a quiz. In this classroom, the teacher is using candy bars as a form of:
a) barter. b) commodity money. c) fiat money. d) yummy money.