In the United States, the distribution of wealth is more unequal than the distribution of income.
Answer the following statement true (T) or false (F)
True
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The economy’s self-correcting mechanism always tends to push the unemployment rate back toward a specific rate of unemployment called the
A. ideal rate of unemployment. B. natural rate of unemployment. C. full rate of unemployment. D. mature rate of unemployment.
The monopolistically competitive seller's demand curve will become more elastic the:
A. more significant the barriers to entering the industry. B. greater the degree of product differentiation. C. larger the number of competitors. D. smaller the number of competitors.
A decrease in the equilibrium price for a product will result
A) when the quantity demanded for the product exceeds the quantity supplied. B) when there is a decrease in supply and a decrease in demand for the product. C) when there is an increase in supply and a decrease in demand for the product. D) when there is a decrease in demand and a decrease in the number of firms producing the product.
If a nation’s balance of payments is always in balance, why isn’t it also always in equilibrium?
What will be an ideal response?