In 2010, households in the lowest quin tile of the income distribution received
a. 3.8 percent of aggregate income.
b. 5.7 percent of aggregate income.
c. 8.7 percent of aggregate income.
d. 10 percent of aggregate income.
a. 3.8 percent of aggregate income.
Economics
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The theory that people will expect fiscal and monetary policies to have certain effects and that they will take actions that make these policies ineffective is the
A. accelerating inflation theory. B. adaptive expectations theory. C. rational expectations theory. D. quantity theory of money.
Economics
Your utility function is given by U = M1/2. What is the expected utility of the following coin toss: heads you win $81, tails you win $100?
A. 0 B. 9.5 C. 19 D. 90.5
Economics