Market income in the United States is distributed
A) more unequally than income after taxes and benefits.
B) less unequally than income after taxes and benefits.
C) the same as income after taxes and benefits.
D) according to a big tradeoff between equity and equality
A
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The period of time between when monetary policy is enacted and when it actually begins to affect the economy is called the
A) recognition lag. B) implementation lag. C) impact lag. D) liquidity lag.
The market-day supply curve is
a. horizontal, reflecting the fact that the quantity supplied can increase infinitely b. vertical, reflecting the fact that the quantity supplied cannot change c. increasing, reflecting the positive relationship between price and quantity d. decreasing, reflecting the inverse relationship between price and quantity e. flatter than the market demand curve
The use of government taxation and expenditures to achieve macroeconomic goals is called
a. cyclical policy. b. monetary policy. c. fiscal policy. d. industrial policy.
The text argues that if avocado growers in Mexico can produce avocadoes cheaper than avocado growers in the United States, this will not reduce total jobs available in the United States. The logic underlying this argument is that
A) avocado growers in the United States did not earn much anyway. B) avocado growers in the United States are welcome to emigrate to Mexico. C) avocado growers in the United States will switch to specializing in a crop in which they hold the comparative advantage. D) avocado growers in Mexico need the jobs more than Americans do.