One of the factors that causes differences in inequality across countries is:
A. the extent to which governments redistribute income through the public budget.
B. the amount of jobs that are available in the country.
C. the labor force participation rate within countries.
D. how many income earners there are relative to total population.
A. the extent to which governments redistribute income through the public budget.
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Techniques for estimating demand curves using direct observations from the marketplace are part of a family of statistical techniques referred to as:
a. legal studies. b. Econometrics. c. policy analysis. d. Economic expansion.
In the figure above, the Lorenz curve that shows the richest 20 of households percent receiving 60 percent of all income is
A) curve A. B) curve B. C) curve C. D) curve D.
The Dred Scott v. Sanford decision of the U.S. Supreme Court in 1857
(a) made all persons born in the U.S. citizens. (b) provided U.S. citizenry to the children of U.S. born slaves. (c) permitted slaves to sue others in courts. (d) prevented slaves from being taken away from their owners without due process.
Which requirement for perfect competition rules out trade associations or other collusive arrangements in which firms work together to influence price?
a. Freedom of entry and exit. b. Homogeneity of product. c. Perfect information. d. Numerous small firms and customers.