According to your textbook, which of the following best explains the fact that income inequality has increased in the U.S. since 1980?
A) The weakening of the labor union movement
B) A reduction in economic growth
C) A growing distrust of the efficacy of federal government spending programs combined with a rising concern over federal budget deficits
D) A rise in the number of single-parent families at low income levels and a rise in two-parent two-earner families at higher income levels
D
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GDP tends to ________.
A. overstate economic welfare, because it does not include certain nonmarket activities such as the productive work of housewives B. understate economic welfare, because it does not take into account increases in leisure C. understate economic welfare, because it includes expenditures undertaken to offset or correct pollution D. overstate economic welfare, because it does not reflect improvements in product quality
he Social Security Program began during the administration of
A. Franklin D. Roosevelt. B. Harry S. Truman. C. Dwight D. Eisenhower. D. John F. Kennedy.
Which of the following statements is true?
A. A random walk process is stationary. B. The variance of a random walk process increases as a linear function of time. C. Adding a drift term to a random walk process makes it stationary. D. The variance of a random walk process with a drift decreases as an exponential function of time.
A monopolistically competitive firm influences market price by virtue of its size.
Answer the following statement true (T) or false (F)