Which of the following is a source of data on the press measure of income inequality in the United States?
A. The Internal Revenue Service
B. The Federal Reserve
C. Survey of Consumer Finances
D. Survey of Labor and Income
Answer: A
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Everything else held constant, a decrease in holdings of excess reserves will mean
A) a decrease in the money supply. B) an increase in the money supply. C) a decrease in checkable deposits. D) an increase in discount loans.
Exhibit 14A-6 Aggregate demand and supply model
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Given the shift of the aggregate demand curve from AD1 to AD2 in Exhibit 14A-6, the real GDP and price level (CPI) in long-run equilibrium will be:
A. $10 billion and 200. B. $4 billion and 150. C. $10 billion and 150. D. $10 billion and 100.
Suppose that the price of beer goes up due to a higher alcohol tax added. Quantity demanded for beer will ________ and consumer surplus will ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease
For a monopolist
A) marginal revenue is equal to price for all units being sold. B) marginal revenue is less than price for all units being sold except the first unit. C) marginal revenue is greater than price for all units being sold except for the first unit. D) there is no relationship between marginal revenue and price.