In the last few decades, income inequality in the United States has ___________ mostly because of the ____________
A. increased; poor getting poorer.
B. increased; gains by the rich.
C. decreased; gains by the poor.
D. decreased; stagnation by the economy in general.
B. increased; gains by the rich.
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A trade surplus exists if export spending is less than import spending
Indicate whether the statement is true or false
The circumstance in which financial assets are traded freely between countries is referred to as ________
A) purchasing power parity B) capital mobility C) free trade D) asset appreciation
Some government policies provide incentives for private decision makers to choose to solve the problem of externalities on their own. What term do we use to describe such policies?
Where Y is GDP, C is consumption, I is investment, G is government purchases, T is net taxes, and there is no international trade, the government budget deficit equals:
A. Y + T - G. B. T - G. C. Y - G. D. G - T.