Which of the following contributes most to the reduction in income inequality?
A. Taxes
B. Wealth
C. Transfer payments
D. Earned income tax credits
C. Transfer payments
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GDP that has been adjusted for changes in the price level is called: a. nominal GDP
b. real GDP. c. personal income. d. net GDP.
A good example of a market that resembles a contestable market would be
A. electric power production. B. trucking companies. C. auto manufacturing. D. urgent-care clinics.
Each of the following explains why cost-benefit analysis is difficult except
a. there is no price with which to judge the value of a public good. b. surveys are often biased and unreliable. c. it is difficult to identify all factors that influence costs and benefits of public goods. d. government projects rarely have sufficient funding to complete them on time.
From 2001 to 2015, the annual rate of inflation in the United States has averaged less than 1 percent.
Answer the following statement true (T) or false (F)