As the U.S. became increasingly industrialized in the 19th century,
a. the poor got poorer.
b. the rich got poorer.
c. the income of the poor grew more slowly than the income of the rich.
d. the income of the poor grew more rapidly than the income of the rich.
c. the income of the poor grew more slowly than the income of the rich.
You might also like to view...
If interest rates rise, then velocity should ____ in the Keynesian model and _____ in the Monetarist model
a. rise; fall. b. stay the same, stay the same. c. rise, stay the same. d. fall; rise. e. none of the above
Exchange rates
a. are always fixed b. fluctuate to equate the quantity of foreign exchange demanded with the quantity supplied c. fluctuate to equate imports and exports d. fluctuate to equate interest rates in various countries e. fluctuate according to agreements between the governments of various countries
Ronald Coase's study, "The Nature of the Firm," argued that
a. market exchange is less costly than hierarchical exchange b. markets are more efficient than hierarchies c. firms are formed to take advantage of situations in which hierarchies are more efficient than markets d. the role of the entrepreneur is primarily to deal with central authority e. markets tend to be less competitive over time
A federal budget ________ occurs when the government spends less than it collects in taxes.
A. surplus B. deficit C. equilibrium D. floor