Most individual's income peaks when they are about
A. 65.
B. 25.
C. 40.
D. 50.
Answer: D
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A banking panic is an episode in which:
A. commercial banks, concerned about high interest rates, rush to borrow at the Federal Reserve discount rate. B. commercial banks, fearing Federal Reserve sanctions, unwillingly participate in open-market operations. C. depositors, afraid of increasing interest rates, attempt to engage in discount-window borrowing at the Federal Reserve. D. depositors, spurred by news or rumors of possible bankruptcy of one bank, rush to withdraw deposits from the banking system.
The United States is a ________ nation because it pays ________ in interest to the rest of the world than it receives in ________ from the rest of the world
A) creditor; more; interest B) debtor; more; interest C) debtor; less; cash D) debtor; more; cash E) debtor; less; interest
The "Public Choice" school of economists argue that:
a. the invisible hand of the market is inefficient in allocating resources to their best uses. b. the government often does not take correct economic decisions as it is run by self-interested politicians. c. the government takes correct decisions as it is run by conscious and educated individuals. d. the market fails to maximize social efficiency. e. the government is a non-profit making organization which works to maximize social efficiency.
Which of the following is a likely cause of declining union membership in the U.S.?
a. An increase in competition from foreign producers b. The annual increase in minimum wage rates c. The shift from service jobs to manufacturing jobs d. A decline in the number of government jobs