In the United States, the percentage of households that have incomes below the mean income is
A) 50 percent.
B) less than 50 percent.
C) more than 50 percent.
D) 0 percent.
C
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Economists assume people's choices
A) are inherently random. B) are the result of greed. C) cannot be predicted. D) conflict with the actions or interests of everyone else. E) create options for other people.
Efforts to balance the federal government's budget by raising taxes provided a buffer to the economic downturn of the Great Depression
Indicate whether the statement is true or false
Which of the following is not a basic monetary policy tool used by the Fed?
A. Deposit insurance B. The reserve requirement C. The discount rate D. The sale and purchase of Treasury bonds
If government purchases are increased by $100, taxes are reduced by $100, and the MPC is 0.8, equilibrium output will change by
A. -$400. B. $900. C. $1,800. D. an amount that cannot be determined from this information.