The United States has a more equal income distribution than many developing economies such as Mexico, South Africa, and Brazil
a. True
b. False
Indicate whether the statement is true or false
True
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Rent controls and the minimum wage are both examples of price ceilings
Indicate whether the statement is true or false
Which of the following will cause an increase in the demand for the Venezuelan currency, the Venezuelan bolivar?
A) real interest rates in Venezuela fall B) U.S. residents change preferences in favor of goods produced in the United States C) real interest rates in the United States increase D) none of the above
Personal income taxes and transfer payments are examples of automatic stabilizers.
a. true b. false
If the price of an inferior good falls, the income effect will result in households buying ________ of the good and the substitution effect will result in households buying ________ of the good.
A. more; more B. more; less C. less; more D. less; less