Sustained federal deficits tend, other things the same, ________
A) to decrease income inequality in the United States
B) to decrease income inequality in Europe but not the United States
C) to increase income inequality in the United States
D) have little effect on the distribution of income in market economies
C
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Which of the following is motivated by an efficiency concern?
A) The United Network for Organ Sharing advocates a system of rationing scarce kidneys that would favor young patients over old in an effort to wring more life out of donated organs. B) In December 2006, the Bush administration restarted a short-term housing assistance program for victims of Hurricane Katrina. C) Each year, the University of Notre Dame conducts a lottery to parcel out the 30,000 seats available to contributors, former athletes, and parents in the 80,000-seat stadium. D) The federal government's housing choice voucher program assists very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market.
A country that can produce a good using fewer resources than another country has a(n):
a. lower opportunity cost of producing the good than another country. b. absolute advantage. c. specialization in the production of the good. d. all of these.