If Kobe, an NBA star athlete, earns $10 million per year but has no money in the bank, he has a
a. high income and high wealth.
b. low income and high wealth.
c. high income and low wealth.
d. low income and low wealth.
c
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In the new Keynesian model, sticky prices may be due to ________
A) involuntary unemployment B) negative productivity shocks C) positive productivity shocks D) staggered prices
A Certificate of Deposit would be counted in which measure of money?
A. M1 B. M2 C. Hard money D. It would be counted in both M1 and M2
Assume the following situation. In year 1, a $400 capital stock generates a $100 GDP. One-fifth, or $20 of the $100 GDP, is put into investment. Assuming a constant capital/output ratio and no depreciation, the capital stock in year 2 is
a. 400 b. 420 c. 440 d. 500 e. 800
If the population doubles in size, what can be expected to happen to the market for automobiles?
a. Automobile manufacturers will decrease supply. b. The price of automobiles will decrease. c. More automobiles will be sold at any given price. d. People will use fewer automobiles. e. None of these.