Which of the following statements is true of inequality in the U.S. economy?
A) Inequality in the U.S. economy is now less than what it was in the year 1950.
B) Inequality in the U.S. economy is now higher than what it was in the year 1950.
C) Inequality in the U.S. economy had increased throughout the 20th century.
D) Inequality in the U.S. economy had decreased throughout the 20th century.
B
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If a currency increases in value as a result of government decree rather than market forces, the process is known as
a. reflation. b. revaluation. c. appreciation. d. value-added.
On what aspect of policymaking, according to Robert Lucas, have policymakers been shortsighted in the past?
What will be an ideal response?
The potential money multiplier for the banking system in the above table is
A. 5. B. 1. C. 10. D. 9.
For a given amount of nominal income, the real income will
A. rise as the price level rises. B. fall if the price level falls. C. fall if the price level rises. D. be unaffected if the price level falls.