Some economists prefer to look at the distribution of consumption rather than that of income. A Review of Economic Studies article in 2006 reported that consumption inequality in the U.S. is:
A. About the same as the income inequality
B. Worse than the income inequality
C. Less severe than the income inequality
D. Highly unstable from one year to the next
C. Less severe than the income inequality
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International reserves include all except one of the following. Which is the exception?
a. gold b. dollars c. yen d. Special Drawing Rights e. oil
Unionism is much more prevalent in the United States than in other industrialized countries
a. True b. False Indicate whether the statement is true or false
Recent legislation provides parents with a substantial reduction in their personal income tax liability for each child that they have. The economic way of thinking indicates that legislation of this type will
a. make it more costly for parents to provide for their children. b. reduce the value of children to their parents and, therefore, lead to a reduction in the birth rate. c. reduce the after-tax cost of raising children and, therefore, increase the birth rate. d. exert no impact on either the cost of raising children or the birth rate since having children is a not an economic activity.
The money multiplier is equal to: a. the value of the required reserve ratio of the economy
b. one-hundredth of the required reserves of the economy. c. the reciprocal of the required reserve ratio of the economy. d. one-hundredth of the required reserve ratio of the economy.