From 1975 to 2008, which of the following countries experienced greater wage increases than the U.S.?
a. Japan
b. South Korea
c. Taiwan
d. all of the above
d
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Which income distribution is more unequal and why: the income distribution in the United States or in the entire world?
What will be an ideal response?
Using the information contained in Figure 4-7 above, the initial equilibrium Y is 3500. If there is 500 of new fiscal stimulus and a constant money supply, Y will increase to ________ and the interest rate will ________
A) 4000; remain constant B) 4000; rise to 10% C) 4500; rise to 12.5% D) 5500; remain constant
If the federal government decreases its spending and doesn't decrease taxes, the bond supply shifts to the
A) left and the equilibrium interest rate rises. B) left and the equilibrium interest rate falls. C) right and the equilibrium interest rate rises. D) right and the equilibrium interest rate falls.
Specialization and trade allow an economy to expand its:
a. production possibilities. b. consumption possibilities. c. technological advantage. d. absolute advantage.