The achievement of greater efficiency in the United States has been at the expense of growing inequality.
Answer the following statement true (T) or false (F)
True
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When the central bank sells $1,000,000 worth of government bonds to the public, the money supply:
A. increases by $1,000,000. B. decreases by $1,000,000. C. decreases by more than $1,000,000. D. decreases by less than $1,000,000.
Which of the following best defines disposable income?
A. Income received by households less personal taxes. B. The before-tax income received by households. C. All income earned by resource suppliers for their current contributions to production. D. The market value of the annual output net of consumption of fixed capital.
One lesson that Akerlof's Lemons model provides is:
A. that for high quality providers to survive they must provide a way that customers can distinguish high quality from low quality. B. low quality will not survive in a market. C. moral hazard is unavoidable. D. people always prefer high quality to low quality goods.
The aggregate supply curve slopes upward when the real wage falls initially as the price level rises
a. True b. False Indicate whether the statement is true or false