Sustained federal deficits tend, other things the same, ________
A) to decrease income inequality in the United States
B) to decrease income inequality in Europe but not the United States
C) to increase income inequality in the United States
D) have little effect on the distribution of income in market economies
C
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The greater the number of firms in a colluding oligopoly, the ________ the gain from undercutting the monopoly price and the ________ the potential future loss from a price war.
A. smaller; smaller B. smaller; larger C. larger; larger D. larger; smaller
If the complicated technology costs $10million to develop while the simple technology costs $2million to develop, which technology is more profitable to develop?
a. The simple voice-activated software b. The complicated thought-activated software c. Neither of the software d. Need more information
The central question in economics is how to
a. make the best use of scarce resources. b. use government planning agencies. c. induce people to want less. d. increase human knowledge.
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline