From 1979-2007, labor income for U.S. households became more evenly distributed.
Answer the following statement true (T) or false (F)
False
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Gross public debt is
A) the total value of budget deficits plus budget surpluses over the past five years. B) an excess of government spending over government revenues during a given time period. C) a situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given time period. D) all federal government debt irrespective of who owns it.
In an economy that did not use money, but in which barter was exclusively employed for the exchange of goods, inflation
A) could not occur. B) would be almost entirely the result of speculation. C) would benefit buyers more than sellers. D) would redistribute real income rather than money income. E) would strike hardest at those on fixed incomes.
From 1970 to 2010, the real price of eggs decreased. Which of the following would cause an unambiguous decrease in the real price of eggs?
A) A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs. B) A shift to the right in the supply curve for eggs and a shift to the left in the demand curve for eggs. C) A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs. D) A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs.
Which of the following is the best example of a natural monopoly?
a. gold mining in the Colorado Rocky Mountains b. filmmaking in Hollywood c. electrical service to homes in Seattle d. production of film by Kodak e. production of computers by IBM