Income inequality in the United States has increased in part due to differences in productivity
A more productive worker is likely to be paid ________ than a less productive worker doing the same job, and the worker who adds more value to the product being produced is likely to be paid ________ than the worker who does not add as much value to production. A) more; more
B) more; less
C) less; more
D) less; less
A
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In the standard consumption function of C = a + bY, a change in corporate stock prices would be reflected by a change in
A) Y. B) b. C) a. D) both A and B.
The Long-Run Phillips Curve is vertical, suggesting that ________
A) allowing inflation to rise will not succeed in keeping unemployment low B) changes in unemployment have no lasting impact on inflation C) shifts of the short-run Phillips curve impact inflation, but have no effect on unemployment D) all of the above E) none of the above