If we consider one Gini coefficient for the entire population of the world, this coefficient has probably ________ in the last two decades.
A. decreased
B. remained unchanged
C. fallen to zero
D. increased
Answer: A
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To the extent that a direct expenditure offset results from an expansionary fiscal policy,
A) the fiscal policy will not be discretionary. B) the time lags associated with the implementation of fiscal policy will shorten. C) the stimulative effect will be less than anticipated. D) the stimulative effect will be more than anticipated.
If price elasticity of supply is less than 1
A) supply is elastic. B) demand is elastic. C) demand is inelastic. D) supply is inelastic.
Economics is a:
A) social science that studies goods with no alternative uses. B) natural science that studies goods with no alternative uses. C) social science concerned chiefly with how people choose among alternatives. D) social science concerned chiefly with reasons why society has unlimited resources
What is workfare?
(A) A state-by-state grant program of aid to the elderly. (B) A program that requires work in exchange for assistance. (C) Welfare that is limited to preschool-age children. (D) An early poverty program from the 1950s.