Empirical observations validate that the Gini co-efficient for the U.S. economy was between 0.35 and 0.37 until the 1990s, after which it has increased and reached 0.469 in 2009 . Which of the following can be inferred from this?
a. The distribution of national income in the U.S. has become slightly more equal since the 1990s.
b. The government spending on poverty alleviation has increased since 1990.
c. More jobs have been created in the U.S. since 1990.
d. The distribution of national income in the U.S. has become slightly more unequal since the 1990s.
e. The government has replaced the existing regressive tax structure with a progressive tax structure.
d
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For the CPI, the market basket of goods and services is modified
A) each time the Consumer Expenditures Survey is conducted. B) about every 10 to 20 years. C) each month when the Price Survey is completed. D) each year to reflect changes in consumer purchasing habits. E) at the discretion of the President.
The two major problems caused by asymmetric information are the moral-hazard problem and the principal-agent problem
a. True b. False Indicate whether the statement is true or false
Economic growth can be defined as:
a. An increasing rate of savings b. Increasing in government surplus c. Increasing Real GDP per person d. Increasing Nominal GDP
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.