Income distribution in the United States has become more equal since 1980
Indicate whether the statement is true or false
F
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If government spending is $650 billion while government revenue is $950 billion, the government is said to have a
A) $300 billion budget surplus. B) $300 billion budget deficit. C) $1,600 billion budget balance. D) $950 billion budget deficit.
All of the following except ____ are shortcomings of cost-benefit analysis
a. difficulty in measuring third-party costs b. difficulty in measuring third-party benefits c. failure to consider the time value of benefits and costs d. difficulty of accounting for program interactions e. a and b
In the interest-rate-based transmission mechanism, a decrease in the money supply will
A. shift the aggregate supply function inward and increase real Gross Domestic Product (GDP). B. reduce investment, shift the aggregate demand function inward, and lower real Gross Domestic Product (GDP). C. reduce the rate of interest and the level of investment. D. increase the price level.
Related to the Economics in Practice on p. 79: If the supply of generators decreased and the equilibrium price of generators decreases, the demand for generators ________ and total revenue from the sale of generators ________.
A. increased; may increase, decrease, or stay the same B. may have increased, decreased, or stayed the same; will decrease C. may have increased; decreased, or stayed the same; may increase, decrease, or stay the same D. decreased; will decrease