How has the distribution of income in the United States changed over the last 20 years?
(A) It has become more equal.
(B) It has become less equal.
(C) It has not changed appreciably.
(D) It became more equal for about 10 years but has become less equal.
Ans: (B) It has become less equal.
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The sale of government bonds by the Federal Reserve Banks to commercial banks will ________.
A. increase aggregate demand B. decrease aggregate supply C. decrease aggregate demand D. increase aggregate supply
Refer to above figure. In autarky, Country P was producing at point 5. With trade, would its production point be found above or below point 5? Explain why
What must happen in the K/L intensity ratio in the production of each of the products in this country when moving from autarky to free trade?
The statement "There is no accounting for taste" implies
A) individuals all have the same preferences. B) individuals all have different cardinal preferences but the same ordinal preferences. C) individuals all have different ordinal preferences but the same cardinal preferences. D) individuals all have different ordinal and cardinal preferences.
Refer to the production function. The average product at 5 units equals ________ units
Fill in the blank(s) with correct word