In 2011, the top 20% of US families had more than times as much income as the bottom 20%
twelve
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Who gains in a voluntary trade?
A. Both the buyer and the seller, but the seller usually gains more. B. Both the buyer and the seller. C. The buyer only. D. The seller only.
Which of the following statement or statements are correct about potential GDP?
i. Actual real GDP equals potential GDP when the economy is at full employment. ii. Real GDP can be less than potential GDP. iii. When real GDP equals potential GDP, it also equals nominal GDP. A) i only B) ii only C) ii and iii D) i and ii E) i, ii, and iii
If the federal government tries to make fiscal policy sustainable by increasing taxes on capital income, the after-tax return to capital goods will ________ and will result in ________ potential GDP
A) increase; lower B) decrease; higher C) decrease; lower D) increase; higher
A successful tit-for-tat strategy leads to
a. explicit collusion b. a cartel c. a duopoly d. tacit collusion e. market disequilibrium