Over the last 30 years, the income gap between the rich and the poor has declined.
Answer the following statement true (T) or false (F)
False
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"Although the United States is running a large current account deficit, it is still ranked as a major international net lender." Is the previous statement correct or incorrect? Briefly explain your answer
What will be an ideal response?
When a resource has a perfectly inelastic supply curve
A) the amount of economic rent for this resource is determined by its supply. B) the amount of economic rent for this resource is determined by demand for the resource. C) the amount of economic rent for this resource is determined by the government. D) there is no economic rent being earned by this resource.
The three major responsibilities of the ________ are legislative power, control over the budget, and supervision of executive decisions.
A) European Commission B) European Council C) European Parliament D) European Court of Justice
In the Keynesian model, a $5 billion decrease in investment leads to ________ in short-run equilibrium output.
A. a greater than $5 billion decrease B. no change. C. a $5 billion decrease D. a $5 billion increase