Income inequalities are often greatest in the poorest countries.
Answer the following statement true (T) or false (F)
True
Richer nations tend to be better at reducing income inequality than are poorer nations.
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One drawback in using fiscal policy as a stabilization tool is that fiscal policy:
A. is not useful for dealing with prolonged episodes of recession. B. effects are frequently offset by automatic stabilizers. C. affects potential output as well as aggregate expenditure. D. is too flexible to use to close output gaps.
The Sherman Antitrust Act:
a. prohibited restraint of trade. b. created the Federal Trade Commission. c. prohibited fraudulent advertising. d. regulated the railroads.
In computing GDP, market prices are used to value final goods and services because
a. market prices do not change much over time, so it is easy to make comparisons between years. b. market prices reflect the values of goods and services. c. market prices reflect the quantity sold. d. None of the above is correct; market prices are not used in computing GDP.
When foreign residents increase their demand for U.S. dollars, ceteris paribus,
A. Foreign residents, at the same time, reduce their supply of foreign currency to the foreign exchange market. B. The dollar price of foreign currency will rise. C. The dollar will appreciate in value. D. The dollar will depreciate in value.