In the year 2010, the richest fifth of the American population earned close to:
a. 50% of the total income.
b. 20% of the total income.
c. 30% of the total income.
d. 80% of the total income.
a. 50% of the total income.
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A rise in foreign productivity tends to __________ foreign prices and causes the dollar to __________ relative to the foreign currency
A) raise; appreciate B) raise; depreciate C) lower; appreciate D) lower; depreciate
An increase in shipments of currency from the Federal Reserve to commercial banks will
A) increase the money supply. B) increase bank reserves. C) reduce bank reserves. D) have no effect on bank reserves.
Perfect competition is characterized by a large number of buyers and sellers with identical products and no significant barriers to entry
a. True b. False Indicate whether the statement is true or false
Public policy, without intending to do so, can increase frictional unemployment
a. True b. False Indicate whether the statement is true or false