The 2011 U.S. distribution of income shows that the top 5 percent of families have approximately what share of income?

a. 4 percent
b. 9 percent
c. 21 percent
d. 49 percent

c

Economics

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U.S. gross national product is defined as

A) the value of final goods and services produced within the United States. B) the value of final goods and services produced outside of the United States. C) the value of final goods and services produced by residents of the United States even if the production takes place outside of the United States. D) the value of final goods and services produced within the United States, by United States residents.

Economics

A commercial bank has excess reserves of $10,000 and a required reserve ratio of 20%. It grants a loan of $8,000 to a customer, who then writes out a check for $8,000 that is deposited in another bank. The first bank will find its reserves decrease by:

A. $2,000 B. $3,000 C. $1,600 D. $8,000

Economics