An unfair distribution of incomes is the result of
A. Income inequity.
B. Government failure.
C. Market failure.
D. Generous philanthropy.
Answer: C
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If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 8,000 per year, there is a ________ in the market and the price will ________
A) shortage; rise B) shortage; fall C) surplus; rise D) surplus; fall
In 2016, welfare spending accounted for almost _____ of federal outlays
a. 5 percent b. 10 percent c. 14 percent d. 20 percent e. 31 percent
Inflation can only be caused by an increase in aggregate demand
a. True b. False Indicate whether the statement is true or false
The consumption function illustrates that:
a. saving increases as disposable income decreases. b. consumption increases as saving increases. c. consumption increases as disposable income increases. d. consumption increases as disposable income decreases. e. consumption increases as investment increases.