Income inequality is
A. Not an issue for wealthy countries such as the United States and Germany.
B. Often greatest in the poorest countries such as Namibia and Botswana.
C. Not an issue in the United States because of the progressive federal tax system.
D. A global issue because the poorest tenth of the population gets 20-30 percent of total income.
Answer: B
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Explain how a currency drain affects the size of the money multiplier. In your explanation, suppose that a bank gains $1 million in new deposits and reserves
Further suppose that the desired reserve ratio is 10 percent and the currency drain is 50 percent.
Electricity and internal combustion engines are general-purpose technologies. They permit the functioning of a wide range of goods, service and production systems
Indicate whether the statement is true or false
A monopolistic competitor can expect to earn an economic profit in the long run
a. True b. False Indicate whether the statement is true or false
According to classical economists, market-driven economies
A. Are inherently unstable. B. Require government intervention. C. Are always in long-run equilibrium. D. Are typically self-adjusting.