What does classic economic theory predict about the effects of a free global market on income distribution?
a. The gap between rich and poor will continue to grow.
b. The gap between rich and poor will grow but at a slower rate.
c. The incomes of rich and poor areas should eventually converge.
d. Income inequality will increase as the world becomes more open.
c
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With the Soviet Union no longer a threat after Hitler’s invasion, Japan considered a strike against the U.S. as a good option because __________
a. they felt it would completely demoralize the U.S. and make full-scale war less likely to erupt b. reversing its aggression in China and Southeast Asia would be impossible during a time of global war c. the isolationist streak in the U.S. was still strong despite the willingness of President Franklin D. Roosevelt to impose punitive sanctions on Japan d. Japan would be unable to survive as a country if it did not take action against the American oil embargo, given that it relied on imports
Describe the arguments for and against the flat tax.
What will be an ideal response?