Which of the following statements is true?
A. Worldwide, no countries are catching up to the United States with respect to GDP per capita.
B. The poverty line has not been adjusted at all in the past 35 years.
C. Income distributions have not changed much in the United States in the past 35 years.
D. Progressive income tax structures are one method of making incomes more equal.
Answer: D
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Which of the following is an example of foreign portfolio investment?
A) the purchase of a U.S. mutual fund by a U.S. citizen B) the purchase of a Japanese factory by a Korean citizen C) the purchase of a U.S. stock by a U.S. citizen D) the purchase of a U.S. Treasury bond by a German citizen
If a French company exports $2 million of machinery to Italy and French tourists spend $2 million at Italian beaches, the French merchandise trade balance ________, and the French financial account balance ________
A) rises; rises B) rises; is unchanged C) is unchanged; is unchanged D) is unchanged; rises
According to Friedman, the apparent conflict between cross-section data which shows a saving rate that varies with income group and time-series data which shows that the saving ratio over the past century is fairly constant is resolved by
A) pointing out that cross-section and time-series data are not comparable. B) interpreting the low saving of poor people as due to the fact that they must buy necessities. C) interpreting the high saving of rich people as due to the transitory nature of much income earned by the rich. D) distinguished between a permanent marginal propensity to consume and a transitory marginal propensity to consume.
Lower prices are always better for society
a. True b. False Indicate whether the statement is true or false