Which of the following is not true about income quintiles?
a. Only one in seven households in the bottom quintile has anybody working full time
b. Only one in three households in the top quintile has anybody working at all
c. A primary contributor to the smaller share of income going to the bottom quintile has been the growth of single-parent households
d. Three out of four households in the top quintile have two or more working
e. A primary contributor to the larger share of income going to the top quintile has been the growth of two-earner households
B
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Balanced budget multiplier (= +5 - 4 = 1. Thus the impact on economic equilibrium is exactly equal to the original change in government spending (and taxes). So we can say that ?Y = ?G.**)
What will be an ideal response?
Why does an exchange rate-output combination lying above both DD and AA jump first to AA in equilibrium?
A) Asset prices can adjust immediately. B) Production plans can adjust immediately. C) to preserve full employment D) Prices are nominal and demand is real. E) Aggregate demand adjusts faster than output.