How has the distribution of income in the United States changed over the last 20 years?
(A) It has become more equal.
(B) It has become less equal.
(C) It has not changed appreciably.
(D) It became more equal for about 10 years but has become less equal.
Ans: (B) It has become less equal.
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Which of the following statements about exchange is true?
a. If everyone starts off with the same quantities of each good, it would be impossible to realize gains from trade. b. Exchange tends to move each good toward those individuals who value the good more highly. c. Exchange always results in one party being made better off and the other being made worse off. d. For trade to occur, everyone must start off with the same value of the good that is traded.
Other things the same, if the government reduced its budget deficit, the country's trade balance would rise
a. True b. False Indicate whether the statement is true or false