To avoid the conflicts and suffering of a "zero-sum society," an economy must maintain a
A) positive rate of productivity growth.
B) positive rate of inflation.
C) foreign trade surplus
D) government budget deficit.
A
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When China embarked on market changes towards urbanization and manufacturing in 1978, urban disposable incomes were 2.6 times greater than rural net income. By 2008 they were 3.3 times bigger
Which of the following have the market changes sketched above have most likely NOT caused? A) Increased income inequality between rural and urban populations B) A movement towards a bell-shaped distribution of income C) An increased Gini ratio D) The Lorenz curve for income to move further away to the line of equality
Which of the following would lead to a change in both the quantity of a good buyers wish to purchase and in the quantity sellers wish to sell?
a. a change in the price of a substitute good b. a change in buyers' incomes c. a change in the price of a key input d. a technological improvement e. a change in the expected future price of the good
According to the classical dichotomy, which of the following is not influenced by monetary factors?
a. real GDP. b. real wages. c. real interest rates. d. All of the above are correct.
Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.
Figure 28.1Refer to Figure 28.1. According to classical economists if the wage rate is $6, the wage rate will ________ to eliminate the ________.
A. increase; shortage B. increase; surplus C. decline; shortage D. decline; surplus