Using the table provided above, which of the following statements is TRUE?
A) Income inequality is decreasing.
B) Incomes are increasing.
C) Incomes are decreasing.
D) Income inequality is increasing.
D
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A German publishing company buys an American publishing company based in New York. In the U.S. balance of payments accounts, this transaction directly appears in
A) the official settlements account. B) the imports part of the current account. C) the net transfers part of the current account. D) the capital and financial account.
Under which of the following circumstances might a gallon of water be more valuable than a flawless one carat diamond? a. At a diamond shop next door to a clean public drinking fountain
b. At a diamond shop next door to a typical grocery store selling bottled water. c. In any U.S. city with safe, clean drinking water. d. In a life raft with 8 passengers who have been adrift on a remote part of the Pacific Ocean for a week with few prospects of an immediate rescue.
Suppose there is an early freeze in California that reduces the size of the lemon crop. What happens to consumer surplus in the market for lemons?
a. Consumer surplus increases. b. Consumer surplus decreases. c. Consumer surplus is not affected by this change in market forces. d. We would have to know whether the demand for lemons is elastic or inelastic to make this determination.
Which of the following is a key assumption in proving the gains from immigration?
a. Immigrants are generally high skilled. b. The productivity of labor rises as the number of workers rises. c. Immigrants are generally low skilled. d. The productivity of labor falls as the number of workers rises.