For the average American, innovation has led to:
a. an average income that is below many countries because of monies spent on R&D
b. an average income that is not paralleled anywhere in the world
c. an average income that exceeds that of all but the richest countries
d. None of the above is correct.
b
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Which of the following guarantees bank depositors that, even if the bank has negative net worth, their deposits will be protected?
a. deposit insurance b. liability insurance c. solvency insurance d. banking insurance
Which of the following actions could be undertaken if the government wants to close an inflationary gap?
A. Increase taxes and reduce government spending. B. Reduce taxes and reduce government spending. C. Increase taxes and increase government spending. D. Reduce taxes and increase government spending.