The redistribution of private income and wealth within poor nations is sufficient to eliminate global poverty.
Answer the following statement true (T) or false (F)
False
Countries like Tanzania, Nigeria, Haiti, Zambia, and Madagascar also have such low average incomes that outright redistribution doesn't hold great hope for income gains by the poor. Tanzania's poorest households would be better off, but the gains wouldn't be spectacular: the average income in Tanzania is less than $1,200 a year.
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The demand curve for bonds would be shifted to the left by an
A) increase in wealth. B) increase in expected returns on bonds. C) increase in expected inflation. D) increase in the liquidity of bonds relative to other assets.
The economy's long-run aggregate supply curve
a. never shifts b. indicates that in the long run, the price level is constant c. is shifted by demand shocks d. is a vertical line at the full-employment level of output e. is perfectly elastic
A major difference between a tariff and a quota is that a tariff
a. will reduce imports, but a quota generally will not. b. can easily be rescinded, but a quota cannot. c. will reduce the ability of foreigners to obtain the purchasing power to buy a nation's export goods, but a quota will not affect the foreign demand for the nation's exports. d. typically generates tax revenue, while a quota does not.
If aggregate demand turns out to be higher than what was anticipated in an economy, then:
a. the economy experiences a contractionary gap. b. the short-run equilibrium occurs at the potential output. c. the short-run equilibrium occurs at an output level lower than potential output. d. the short-run equilibrium occurs at an output level higher than potential output.