Since 1929, the distribution of money income in the United States has
A) become slightly more unequal.
B) not dramatically changed.
C) become more equal.
D) shifted toward the poorer 20 percent away from the richer 20 percent.
Answer: C
Economics
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When the macroeconomic equilibrium is such that real GDP exceeds potential real GDP, the economy is suffering from ________, and the government policy to eliminate this gap will ________ real GDP and ________ the price level
A) an inflationary gap; increase; increase B) a recessionary gap; decrease; decrease C) an inflationary gap; increase; decrease D) a recessionary gap; increase; decrease E) an inflationary gap; decrease; decrease
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Scarcity is determined by the existence of bad alternatives.
a. true b. false
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