If growing income inequality results from changes in technology that, as a whole, make society better off, this will
A) increase the size of the economic pie.
B) decrease the size of the economic pie because of the income inequality.
C) not change the size of the economic pie because the positive technology changes will be offset by the increases in income inequality.
D) result in complete income inequality as technology continues to change in the future.
A
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Your economics professor offers 10 points extra credit if you attend a review session before your next exam. This extra credit is an example of
A) an increase in marginal cost to attend the review session. B) a decrease in marginal benefit to attend the review session. C) a rational choice. D) an incentive to attend the review session. E) None of the above answers is correct.
Which of the following is a service?
a. anything that is scarce and that satisfies unlimited human wants b. a thing for which people pay money c. an intangible activity that satisfies human wants d. any output produced by a service-sector industry, such as fast food e. something less desirable than a good