According to the functional distribution of income, in the United States,
A) capital earns most of the income.
B) the income earned by capital and labor are approximately equal.
C) labor earns most of the income.
D) land earns most of the income.
E) entrepreneurs earn most of the income.
C
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One potential problem with using fiscal policy to close recessionary output gaps is that:
A. sustained government deficits can be harmful to long-run economic growth. B. it may be offset by automatic stabilizers. C. decreased government spending can cause inflationary pressure to build. D. reductions in interest rates can reduce savings and, therefore, investment.
Rent controls tend to __________ the supply of housing and the ________ the level of rents paid.
A. raise; raise B. lower; lower C. raise; lower D. lower; raise