Comparing the US to other countries ranked by inequality,
a. the US has a less equal distribution of income than some countries, but a more equal distribution of income than others.
b. the US has one of the most equal distributions of income.
c. the US has one of the least equal distributions of income.
d. the US has a more equal distribution of income than other economically advanced countries such as Japan, Germany, and France.
a
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If expectations are formed rationally and wages are flexible, the aggregate supply curve is
A) upward sloping. B) horizontal. C) vertical. D) relatively flat.
By 1860,
(a) less than one-third of Southern farmers owned slaves. (b) most of the workers on Northern farmers were hired laborers. (c) immigrants supplied a significant amount of labor to Northern and Southern farmers. (d) all of the above.
Over the course of the twentieth century there has been no pronounced tendency for concentration in the United States to increase
a. True b. False Indicate whether the statement is true or false
The tendency of opportunity cost to increase as production increases
a. is an example of theory that has not been proven by facts. b. is a general principle, but not a universal fact. c. is a universal fact, with no known exceptions. d. rarely holds in reality, but is a useful theory. e. cannot be tested with standard economic tools.