Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.
Figure 33.4Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. With free trade domestic production is
A. 0.
B. 100.
C. 150.
D. 300.
Answer: B
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A financial system is a means of bringing together savers and borrowers.
Indicate whether the statement is true or false.
Since the 1970s ________ saving in the U.S. has been positive while ________ saving has been generally negative:
A. government; household. B. private; public. C. public; private D. business; household
When the president says that "High inflation rates are a much more serious economic problem than high unemployment rates," it is an example of
A) a normative statement. B) an empirically proven fact. C) a positive statement. D) an irrational argument.
If the U.S. Gini coefficient increased from 0.4 in 1970 to 0.6 in 1990, what would be most accurate?
a. Income inequality increased in the U.S b. Per capita income increased in the U.S c. Both income inequality and per capita income increased d. Income inequality decreased e. The growth rate of income increased