Falling inequality has been a feature of the HPAE due to land reform, free public education, free basic health care, and significant investments in infrastructure for communication, sanitation, and transportation
Indicate whether the statement is true or false
TRUE
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Price controls involve the use of the power of the state to establish prices different from the ______ prices that would otherwise prevail.
a. demand b. supply c. indeterminate d. equilibrium
Central planning is the principal method for making economic decisions in:
A.) The United States. B.) Singapore. C.) New Zealand. D.) North Korea.
The most likely explanation for why the U.S. government was not worried about the growth in deficits caused by expansionary policy was they:
A. expected that the economy would grow out of the deficit. B. knew they could pass significant tax increases to manage the deficit. C. wanted to make the dollar exchange rate favorable compared to the Yuan. D. wanted inflation to occur in order to wipe out the value of government debt.
) If consumption expenditures for a household increase from $1000 to $1800 when disposable income rises from $1000 to $2000, the marginal propensity to consume is
What will be an ideal response?