After looking at this year’s Census figures on income, your friend Eddie remarks disgustedly, “Income inequality is such a major problem in this country.” How might you use the consideration of time to temper his statement?
What will be an ideal response?
Eddie’s verdict based on the current Census figures does not provide the full picture of the state of income inequality in the United States. If you take into account that incomes change over time, the negative picture of income inequality may not appear as stark as the single-year statistics appear. Considering incomes over time will show that high income and low income conditions are not permanent states over time.
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The Fed is concerned about inflation. Its policy will ________ U.S. short-term interest rates and, in the foreign exchange market, lead to the value of the U.S. dollar ________
A) lower; rising B) lower; not changing C) raise; rising D) lower; falling E) raise; not changing
Which of the following is always correct?
a. Y - I = NCO b. NCO = NX c. NX = I d. All of the above are correct.
Since 1980, the public debt has
A. declined absolutely, but has remained constant as a percentage of the GDP. B. grown absolutely, but declined as a percentage of the GDP. C. declined absolutely and as a percentage of the GDP. D. grown absolutely and as a percentage of the GDP.
Reserves borrowed at the federal funds rate are usually repaid ________.
A. in one year B. the next day C. at the end of the month D. in five years