In the language of economics, the environment is considered a ___________, a good we have to protect
a. Personal good
b. Community good
c. Natural good
d. Aggregate good
C
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Use the information in the above table. The top 40 percent of the population earn
A) 66.7 percent of the income. B) 55.5 percent of the income. C) 50.0 percent of the income. D) 44.4 percent of the income.
If the price index is 108.4 in period 1 and 118 in period 2, the inflation rate from period 1 to period 2 would be _____
a. 10 percent b. 8.9 percent c. 10.8 percent d. 4.2 percent
The fractional reserve characteristic of the banking system allows banks to create money and also create wealth from bank deposits. Describe why this statement is or is not true
When the government funds a project that will create jobs, the funds for the project
A) are essentially free, because the project originated in the government sector. B) will generate additional tax revenues that will pay for the project. C) will have to be either taxed or borrowed from the private sector. D) will leave private sector output and employment unchanged.