Economists believe income inequality results from all the following except
a. government taxes and transfer payments
b. labor market discrimination
c. unequal distribution of talents in the population
d. unequal access to education
e. unequal distribution of lifetime accumulated assets
A
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Compounding:
A. is beneficial to savers, but costly to borrowers. B. is beneficial to borrowers, but costly to savers. C. is beneficial to borrowers and savers alike. D. is costly to both borrowers and savers.
Per capita GDP will always rise when:
A.) The population rises. B.) The rate of economic growth increases. C.) There is an increase in the rate at which the economy's labor force grows. D.) The rate of economic growth exceeds the rate of population growth.
In an open economy (as compared to a closed one, without international trade)
A. monetary policy is weaker, fiscal policy is more powerful B. fiscal policy is weaker, monetary policy is more powerful C. both monetary and fiscal policy are more powerful D. both monetary and fiscal policy are weaker
When oligopolistic companies engage in collusion, the companies are involved in a
A) noncooperative game. B) negative-sum game. C) competitive game. D) cooperative game.