The major theme that we emphasized with regard to the measurement of income differences/inequality as well as contributors and remedies for these differences is that
A) the U.S. has contributed little to income assistance
B) it's a complex topic with many underlying questions and issues
C) private solutions to low income are relatively simple and effective, unlike public solutions
D) there are no chronically low income households in the U.S.
Answer: B) it's a complex topic with many underlying questions and issues
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The Chairman of the Fed is appointed by ________
A) the Board of Governors of the Federal Reserve System B) the President of the United States C) Congress D) the U.S. Senate
The aggregate demand curve has a negative slope, because households and businesses respond to an increase in ________ by reducing their expenditures
A) the inflation rate B) output C) the real interest rate D) all of the above E) none of the above
A favorable balance of trade occurs when:
a. exports equal imports. b. the balance of payments balances. c. the current and capital account in the BOP are equal. d. the value of the exports of goods exceeds the value of the imports of goods. e. the value of the exports of goods is less than the value of the imports of goods .
Ten years ago, Veronica’s country went through a recession. Many people struggled to get by. The economy has since recovered, but many people are reluctant to spend much of their income, preferring to save as much as possible in case bad economic times return. What impact will this have on economic growth?
a. It will have little impact on growth. b. It will slow economic growth. c. It will boost economic growth. d. It will slow growth in the long term but boost it in the short term.