The distribution of wealth is skewed in part because people with high wealth
A) save very little.
B) tend to marry people with similar wealth.
C) have very little skills.
D) do not earn much more than those with low incomes.
B
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Other things remaining constant, higher trade deficits in the U.S. will lead to: a. U.S citizens buying greater foreign securities
b. an increase in domestic savings in the U.S. c. a decrease in the demand for U.S. dollars. d. an increase in funds from abroad. e. an increase in the standard of living of the U.S residents.
If the U.S. purchased $100 billion in foreign assets and foreigners purchased $50 billion of U.S. assets, which of the following is true?
a. Net exports equal -$50 billion. b. Exports total $100 billion. c. There is a trade deficit. d. Net exports equal $50 billion. e. Imports total $50 billion.
A vehicle currency is:
a. contraband-it is used to smuggle other assets into controlled economies. b. a widely accepted, tradable currency that serves as a currency to use for buying or selling one's own. c. a currency whose value changes rapidly and erratically. d. a currency used to purchase imports of autos, buses, and other transportation equipment.
Which of the following would affect both short-run and long-run aggregate supply?
a. a supply shock b. menu costs c. money illusion d. technological change e. a change in the general price level