Income inequality is greatest in which of these four? countries?
A. Britain
B. France
C. United States
D. Japan
Answer: C. United States
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The quantity theory of money was derived from the quantity equation by asserting that
A) real output was fixed. B) the money supply was fixed. C) the velocity of money was zero. D) the velocity of money was fixed.
When a 5% increase in price leads to an 8% increase in quantity supplied, supply is relatively inelastic
a. True b. False Indicate whether the statement is true or false
Exhibit 14-3 Impact of flights on house valueEach time Orville flies over Wilber's house, the noise reduces the value of Wilbur's house. The table shows the profits to Orville of each flight, and the value of Wilbur's house. Numberof flights Totalprofits Marginalprofits Value of Wilbur'shouse 1 $10,000 $10,000 $100,000 2 18,000 8,000 95,000 3 24,000 6,000 90,000 4 28,000 4,000 85,000 5 30,000 2,000 80,000 As shown in Exhibit 14-3, at the socially efficient number of flights, what will be the market value of Orville's house?
A. $100,000. B. $95,000. C. $90,000. D. $85,000.
Assume that seigniorage and the government's primary deficit are both zero. If the real interest rate is greater than the growth rate of real GDP, the debt-to-GDP ratio
A) will increase. B) will decrease. C) will either decrease or not change. D) will either increase or not change.