Which of the following is true about income inequality?
A. Inequality tends to diminish as the population increases.
B. Inequality tends to be greatest in the poorest countries.
C. Inequality tends to get worse as a country develops.
D. Inequality is not an issue for developed countries.
Answer: B
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Assume that the supply curve for a commodity shifts to the left and the demand curve shifts to the right, and the shift in demand is greater than the shift in supply
Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by: A) a lower price and quantity. B) a higher price and quantity. C) a higher price and a lower quantity. D) a lower price and a higher quantity.
Typically a mix of informational and persuasive advertising is used for
A) experience goods. B) credence goods. C) credible goods. D) search goods.
The major purpose of the Federal Reserve buying government securities in open market operations is to ________.
A. raise money for government spending B. reduce the excess reserves of banks C. allow banks to increase their lending D. increase interest rates
Labor productivity is represented by which of the following?
A) the ratio of output to employment B) workers per unit of capital C) capital per worker D) the ratio of output to population E) the ratio of output to the labor force