Over the last twenty years, the U.S. has generally had a current account ________ and a capital account ________
A) surplus, surplus
B) surplus, deficit
C) deficit, surplus
D) deficit, deficit
C
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According to official statistics in the United States, a person is classified as poor
A. if the person's money income is below the poverty income threshold. B. only if the person's money income is below the poverty income threshold AND the person is not working. C. only if the person's money income is below the poverty income threshold AND the person is homeless. D. if the person's money income and the value of non-cash transfers is below the poverty income threshold.
The combination of producer and consumer surplus shows the:
a. maximum price that buyers are willing to pay for a good b. minimum price buyers are willing to pay for a good c. maximum price that sellers can charge. d. minimum price below which sellers will not sell. e. gains from voluntary exchange.
In economic analysis, people's resources are
A. unlimited and their wants are also unlimited. B. unlimited and their wants are limited. C. limited and their wants are also limited. D. limited and their wants are unlimited.
The more bowed (skewed) the Lorenz curve
A) the more equal the distribution of income. B) the greater the number of households in the society. C) the more unequal the distribution of money income. D) the greater the total income of the society.