What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work.
B. All of our jobs have been shipped overseas.
C. Tax cuts on the property owners and high income citizens.
D. High cost of health care.
C. Tax cuts on the property owners and high income citizens.
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In an open economy, the domestic real interest rate is determined by:
A. domestic saving and domestic investment. B. domestic investment. C. domestic saving, domestic investment, and net capital inflows. D. domestic saving and net capital inflows.
The alteration of exchange rates to move the economy to internal and external balance may lead to all EXCEPT
A) a balance of payments crisis. B) changes in the terms of trade. C) changes in the level of imports or exports. D) changes in interest rates. E) a guaranteed unilateral improvement in economic wealth.
What is true in a market characterized by a natural monopoly?
A. The firm is always extremely large B. The existence of economies of scale over the entire market demand C. The size of the firm’s profits D. The amount of innovation carried out by the firm
As lumber becomes more expensive
A. the quantity of lumber demanded will increase. B. the equilibrium quantity of new houses will decrease. C. the supply of new houses will increase. D. None of the choices are correct.