In the figure above, the second richest 20 percent of households receive ________ of total income
A) 55 percent
B) 35 percent
C) 25 percent
D) 45 percent
C
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Refer to the above table. What does total product equal when 4 units of labor are used?
A) 1328 B) 332 C) 320 D) 960.
If the value of the domestic currency depreciates:
a. Aggregate demand and aggregate supply rise. b. Aggregate demand rises and aggregate supply falls. c. Aggregate demand and aggregate supply fall. d. Neither aggregate demand nor aggregate supply change. e. None of the above.
Let M = money supply; P = price level; V = velocity; Y = real GDP. The equation of exchange is given by
A) M x V=nominalGDP. B) M x Y=P x V. C) M x P=V x Y. D) M x V=(1/V)P x Y.
Since all costs are positive, then economic profit would always be smaller than accounting profit.
Answer the following statement true (T) or false (F)