The United States has less income inequality than most other developed countries
a. True
b. False
Indicate whether the statement is true or false
False
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If you were building a macroeconomic model that explores the effect of the aging population on the needed expenditure for Social Security and Medicare, the endogenous variable(s) would be the
A) aging population. B) needed expenditure on Social Security. C) needed expenditure on Medicare. D) needed expenditure on both Social Security and Medicare.
In which year was the poverty rate the lowest?
A. 1960 B. 1973 C. 1984 D. 1993
Which of the following is most likely to have an income elasticity greater than 1?
a. Pork b. Fine wine c. Gasoline d. Rental housing
Under a head tax, the amount of tax paid is:
A. a linearly increasing function of the taxpayer's income. B. the same for all taxpayers who use the public good. C. proportional to each taxpayer's income. D. the same for all taxpayers.