When a society is more equal:
A. the more the economy grows, so the best economy is the most equal.
B. economic growth will provide the most resources for its disadvantaged members.
C. the more everyone gains when the economy improves, but that doesn't mean the most equal society is the best society.
D. economic growth will create imbalance, and the government will need to work to equalize incomes.
Answer: C
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If MPS is equal to 0.15 and MPI is equal to 0.10, an initial change of $19,000 in government expenditure would result in a total change of _____ in income
a. $19,000 b. $16,150 c. $20,000 d. $76,000 e. $126,667
Which of the following is likeliest to have increased at point B?
a. real wealth
b. household debt
c. consumer spending
d. consumer confidence
The free-rider problem arises because:
A. once provided, a public good is available to all regardless of whether they paid for it. B. poor people cannot afford to contribute to public goods. C. enforcement of tax laws is inadequate. D. people disagree with how the government spends its money.
Answer the following questions true (T) or false (F)
1. In reality, the Fed is unable to use monetary policy to keep real GDP exactly at its potential level. 2. The Fed can use contractionary monetary policy in an attempt to keep inflation from increasing. 3. The Fed can use expansionary monetary policy to lower interest rates to stimulate aggregate demand.