Regarding open economies, economists tend to find evidence that
A. the more closed an economy is, the higher the rate of growth the economy will experience.
B. open economies tend to have access to smaller markets than do closed economies.
C. free trade encourages a more rapid spread of technology, and hence increases economic growth.
D. trade tariffs tend to improve economic growth.
Answer: C
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In the United States, the poorest 20 percent of households earn roughly ________ percent of total income
A) 20 B) 0.5 C) 15 D) 3 E) 10
Two random variables X and Y are independently distributed if all of the following conditions hold, with the exception of
A) Pr(Y = y = x) = Pr(Y = y). B) knowing the value of one of the variables provides no information about the other. C) if the conditional distribution of Y given X equals the marginal distribution of Y. D) E(Y) = E[E(Y )].