In recent decades, countries with high economic growth have experienced ________ inequality, and those with low rates of growth have experienced ________ inequality.
A. increasing; increasing
B. increasing; decreasing
C. decreasing; decreasing
D. decreasing; increasing
Answer: A
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What is likely to happen to the allocation of resources if there is a sudden increase in the demand for a good produced by a perfectly competitive industry?
What will be an ideal response?
Refer to Table 9-5. Select the statement that accurately interprets the data in the table
A) Madison has a greater opportunity cost than Austin for making tacos. B) Austin's opportunity cost for making tacos and making empanadas are both greater than Madison's. C) Austin has a greater opportunity cost than Madison for making empanadas. D) Madison's opportunity cost for making tacos is less than Austin's.
A problem with the too-big-to-fail policy is that it ________ the incentives for ________ by big banks
A) increases; moral hazard B) decreases; moral hazard C) decreases; adverse selection D) increases; adverse selection
Economic profits and losses are true market signals because they
A) convey information in an asymmetrical fashion. B) convey information about rewards people should anticipate experiencing by shifting resources from one activity to another. C) convey information to public officials about where to encourage people to invest and what skills people should develop. D) cause people to move into careers in both undesirable and desirable industries with equal ease.