Over the period from 1971 to 2012, the U.S. Gini ratio for household income ________, which means income inequality in the United States ________
A) increased; increased
B) increased; decreased
C) decreased; increased
D) decreased; decreased
A
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As a general rule, an increase in the capital available to a society
A. reduces the slope of the production possibilities frontier, making it shallower. B. increases the slope of the production possibilities frontier, making it steeper. C. shifts the production possibilities frontier outward, away from the origin. D. shifts the production possibilities frontier inward, toward the origin. E. makes the production possibilities frontier more bowed out.
The largest expenditure category in the United States is
A) consumption expenditure. B) wages. C) net exports of goods and services. D) government expenditure on goods and services. E) investment.
A perpetuity that pays $250 per year at an interest rate of 4% would have a market price equal to
A) $6,250. B) $25,000. C) $2,500. D) $62,500.
A model in which workers won't be concerned about the possibility of being fired if they don't work hard, because their wage is so low, is called
A) a cost—benefit model. B) a job—stress model. C) a gift—exchange model. D) a shirking model.