What percentage of millionaires in the United States are self-made?
a. about 20 percent
b. about 40 percent
c. about 60 percent
d. about 80 percent
d
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Use the following diagram of the market for money to answer the next question.
The downward slope of the money demand curve Dm is best explained in terms of the
A. asset demand for money. B. wealth or real-balances effect. C. direct or positive relationship between bond prices and interest rates. D. transactions demand for money.
Who benefits from a tariff on a good?
A) domestic consumers of the good B) foreign governments C) domestic producers of the good D) foreign producers of the good
Which of the following conditions holds in an economically efficient competitive market equilibrium?
A) Producer and consumer surplus are exactly equal in size. B) There are no positive and no negative external effects from consumption and production. C) The deadweight loss is positive but at a minimum. D) The marginal benefit of the last unit produced and consumed is maximized.
The largest amount of state and local spending is spent on highways and other roads
a. True b. False