Empirical observations validate that the Gini co-efficient for the U.S. economy was between 0.35 and 0.37 until the 1990s, after which it has increased and reached 0.469 in 2009 . Which of the following can be inferred from this?
a. The distribution of national income in the U.S. has become slightly more equal since the 1990s.
b. The government spending on poverty alleviation has increased since 1990.
c. More jobs have been created in the U.S. since 1990.
d. The distribution of national income in the U.S. has become slightly more unequal since the 1990s.
e. The government has replaced the existing regressive tax structure with a progressive tax structure.
d
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Human capital differs from physical capital in that
a. human capital is intangible. b. human capital is tangible. c. physical capital is intangible. d. human capital has no cost to acquire.
A nation is said to have _____ in the production of a good if it can produce it at a lower cost than another nation
a. a comparative advantage b. an absolute advantage c. economies of scale d. production efficiency