Which of the following is NOT a mechanism the high-growth Asian economies used to share wealth across all layers of society?
A) Significant investments in rural infrastructure
B) Free public education
C) Tax policies that strongly redistributed income from rich to poor
D) Land reform
C
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Special Drawing Rights (SDRs) are issued to governments by the ________ to settle international debts and have replaced ________ in international transactions
A) Federal Reserve System; gold B) Federal Reserve System; dollars C) International Monetary Fund; gold D) International Monetary Fund; dollars
Advocates of a progressive income tax use arguments EXCEPT for which of the following?
A) A progressive tax system taxes according to ability to pay. B) A progressive tax system taxes according to benefits received. C) A progressive tax system helps redistribute income away from the rich and towards the poor. D) A progressive tax system maximizes government revenues.
Why do Americans want to buy pounds?
a. To buy goods and services from British firms and to buy British assets. b. To purchase a British soccer shirt in New York. c. To purchase stock in British companies on the New York Stock Exchange. d. To purchase Canadian bonds. e. To buy goods and services only.
Which of the following phenomena shows that risk aversion is the characteristic of many people?
A. Gambling B. Investing in one stock rather than a portfolio C. Auto insurance D. Looting