Recall the Application. If country A has a lower overall income tax rate than country B, and labor can freely and easily move between the two countries, real wages in country B will tend to ________ and employment in country B will tend to ________

Economic growth is defined as a long-run increase in an economy's

a. resources b. employment rate c. total output of goods and services d. level of profits e. money supply

If income is distributed equally in a society, the poorest fifth of the population receives

a. 5 percent of the total income. b. one-fifth as much as the richest fifth of the population. c. 20 percent of society's total income. d. 50 percent of society's total income.