Which of the following statements is correct?
a. The distribution of annual income accurately reflects the distribution of living standards.
b. Permanent incomes are more equally distributed than annual incomes.
c. Transitory changes in income generally have a significant impact on a family's standard of living.
d. Annual income is more equally distributed than permanent income.
b
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Which of the following has overseen the global rules of government policy toward international trade since 1995?
A. The World Trade Organization B. The General Agreement on Tariffs and Trade C. The World Bank D. The International Monetary Fund
Controversies between Keynesian, monetarist, and supply-side theories focus on the
A. Usefulness of aggregate demand and supply to analyze adjustment of the macro equilibrium. B. Existence or nonexistence of the aggregate supply curve. C. Importance of international balances to the economy. D. Shape and sensitivity of aggregate demand and aggregate supply curves.