In the United States approximately 80 percent of millionaires did not inherit their wealth. This illustrates the
a. amount of transitory income in the United States.
b. effectiveness of government anti-poverty programs in the United States.
c. great economic mobility in the United States.
d. level of permanent income in the United States.
c
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How does a decrease in government spending affect the aggregate expenditure line?
A) It shifts the aggregate expenditure line upward. B) It shifts the aggregate expenditure line downward. C) It increases the slope of the aggregate expenditure line. D) It decreases the slope of the aggregate expenditure line.
If a country is producing efficiently and is on the production possibilities frontier, the only way to produce more of one good is with an advance in technology
Indicate whether the statement is true or false
Foreign direct investment is defined as
A) the acquisition of more than 10 percent of the shares of ownership in a company in another nation. B) funds allocated into a foreign stock market that represent an ownership share of firms less than 5 percent. C) purchasing both capital equipment and government bonds abroad. D) purchasing government bonds.
The balance on the current account ____________
a. can never be negative b. can be positive or negative c. must always be one d. must always be zero e. is an itemized account of a nation's foreign economic transactions