"static" view of income differences
A) considers incomes across different groups by tracking them over time
B) considers incomes across different groups by creating a base year for comparison
C) considers income across different groups at a given point in time
D) averages all incomes into a single measure of differences
Answer: C) considers income across different groups at a given point in time
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Since the Social Security system began in the 1930s, the number of workers per retiree
A) has stayed roughly the same. B) has declined. C) has risen. D) declined through 1960 and has risen ever since.
If it's possible to eliminate the problems created by externalities, why do they persist?
A. It can be difficult to coordinate the millions of market participants. B. Creating a more efficient solution does not mean it will have a fair distribution of that surplus. C. They can be diffuse, complex, and hard to control. D. All of these statements are true.
Economic theory indicates that, the size of government will be
a. unrelated to economic growth. b. negatively related to economic growth at all possible sizes of government. c. positively related to economic growth at all possible sizes of government. d. positively related to economic growth at small levels of government but is negatively related to economic growth as government becomes larger and larger.
Which of the following would most likely cause a nation's currency to appreciate?
a. an increase in inflation of the nation's trading partners b. an increase in the nation's domestic inflation rate c. a decrease in domestic real interest rates d. an increase in real interest rates abroad