The distribution of U.S. income is not bell-shaped because
A) there are more households with incomes below the mean income than above the mean income.
B) there are more households with incomes above the mean income than below the mean income.
C) the mode income equals the mean income.
D) the income distribution is bell shaped.
A
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The market-based system which allocates tradeable pollution permits to companies is known as a cap-and-trade system
Indicate whether the statement is true or false
Starting with an exchange rate of $1 = ¥110, and a price tag of ¥30,000 for a Japanese good, what happens to the dollar price of the good if the yen appreciates by 6 percent?
A) the dollar price of the good rises from $272.73 to $289.09 B) the dollar price of the good falls from $272.73 to $256.37 C) the dollar price of the good rises from $330,000 to $349,800 D) the dollar price of the good falls from $330,000 to $310,200 E) ?the dollar price of the good rises falls from $2,700 to $2,560
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Over the past century, the average household income in the United States
A. has increased in nominal terms but has decreased in real terms. B. has increased in nominal terms but has remained constant in real terms. C. has increased in real terms. D. has increased only marginally both in real and nominal terms.