Differences in the amounts and quality of education and training:
A. combine with differences in mental, physical, and aesthetic talents to produce income
inequality.
B. explain none of the income inequality in the United States.
C. explain nearly all the income inequality in the United States.
D. have lessened in the United States in the past decade, sharply reducing income inequality.
Answer: A
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In the United States, for a $1 fall in state government revenue, the federal government increases transfers by:
A) $2. B) $1. C) 30 cents. D) 15 cents.
Both Mergatroid and the Geebocks produce only gizmos and widgets. It is possible for Mergatroid to have
A) an absolute and a comparative advantage in both products. B) an absolute but not a comparative advantage in both products. C) a comparative but not an absolute advantage in both products. D) neither a comparative nor an absolute advantage in both products.