The difference between the value of a country's merchandise exports and merchandise imports is known as the balance:
a. of payments

Income distribution in the United States is quite similar to that in other industrialized nations

Indicate whether the statement is true or false

The saying "the lower the price, the better" may not always be correct for an economy's public interest because

a. people should have to pay for what they want. b. people will overuse something they perceive as being cheaper than the utility they receive for it. c. the government can no longer afford to provide all the goods and services it provides because it is slowly going broke. d. cheaper prices will make people buy less of other things.