State True or False: Since the 1970s, the gap between the rich and the poor in the United States has decreased significantly.

Q: Should government provide free English classes to new immigrants? Explain your answer.

A: Positive externality or spillover benefit is an advantage that is derived by a third party when…

Q: Why some countries are really poor? Please draw the cycle of poverty and explain this cycle at least…

A: Some countries have low employment,investment,saving,capital formation etc. Therefore they have…

Q: Which of the following policies would be the most likely to have the effect of increasing income…

A: Option A) increasing the interest rate on bank loans Option C) lowering taxes on income from…

Q: In a market economy, one of the following answers would not affect labor supply. Which one? Group of…

A: Labor supply shows different quantities of labor supplied at different wage levels

Q: Macroeconomic policies that keep interest rates low encourage efficient economic investment in ideas…

A: The Central Bank is the prime bank of any economy since without it there would exist no institution…

Q: In a small nation, the government owns several of the key businesses and provides a wide range of…

A: Governments in socialist countries are tasked with redistributing wealth and closing the wealth gap…

Q: Discuss how policy variables, government spending and taxation, are used to influence economic…

A: A policy through which the government tends to adjusts its levels of spending and tax rates for…

Q: TRUE or FALSE 25. Healthcare, sanitation, education, and independence of women are considered parts…

A: Demographic transition is an economic phenomenon that signifies that an economy is going through a…

Q: Adam Smith's idea of the "invisible hand" says that given a country's resources and its initial…

A: Ans Above statement is TRUE Invisible hand means the market should correct itself without any…

Q: One tradeoff society faces is between efficiency and equity. Define each term. If Oman government…

A: Efficiency in simple terms means the ideal production and its resource allocation in a…

Q: In many developing countries, livestock death and disease is considered to be one of the main…

A: Economics can be defined as the allocation of scarce resources in order to satisfy the consumer…

Q: Market economies are primarily characterized by ________. A) restricted consumer powers.   B) heavy…

A: Market economy: - The market economy is an economy where the production and pricing decisions are…

Q: Which of the following statements is correct? [Select one answer]   Chronic poor are those whose…

A: In an economy, poor people are majorly classified into three categories such that, transitory,…

Q: What is the Gina Coefficient

A: Gina coefficient is a statistical measure which is measured by lorenz curve and can be calculated as…

Q: Which of the following is not a way that the government has influenced labor in the United States?…

A: Government influences the labor market by creating various laws with the aim of increasing the…

Q: Which of the following statements about self-interest in a market system is false? In a market…

A: Self interest is one of the core fundamentals on which market system operates.

Q: Which statements is TRUE? 1. O- Ring Model posits that there are no small tasks in the…

A: Development: It is a cycle that makes development, progress, positive change or the expansion of…

Q: Which of the following statements is true regarding a mixed economy? [A] Private property is not…

A: The statement which is true regarding the mixed economy is that Option(c) is correct The government…

Q: TRUE or FALSE   61. Up to this time, poverty is experienced more by women rather than men at the…

A: Since you have posted question with multiple sub-parts, we are answering the first three for you. If…

Q: Consider an economy that lacks any safety regulations. After a review of various incidences of…

A: a) Many economic transactions take place in an environment of imperfect information, in which either…

Q: Discuss each of the following statements from the standpoints of equity and efficiency. a. “Everyone…

A: Meaning of Equality and Efficiency: The term efficiency refers to the situation when an economic…

Q: Increasing the wage rate of consumers will always raise their living standard and make them better…

A: In the labor market, the wage rate refers to the compensation for the workers or the cost for the…

Q: The cost of living has risen in tandem with increasing average food prices, while the loss of…

A: Point of agreement.  Answer: The cost of living has definitely risen with the rise in inflation and…

Q: Due to a stagnant income for 23 years, the number of Mexicans who cannot buy the basic basket has…

A: Consumer price index is the average change in the prices for a basket of goods and services over…

Q: Two major virtues of the market system are that it:         allocates resources efficiently and…

A: The market system is the collection of buyers and sellers who are trading different goods and…

Q: TRUE OR FALSE: 1. With regards to "Income and Wealth Inequality," government responded to the rise…

A: Note:- Since we can only answer up to three subparts, we'll answer the first one. Please repost the…

Q: Why is the typical American today more than 10 times richer than thetypical American a century ago?

A: The US economy is now the leader in the capitalist economies around the world. The growth and…

Q: Is this statements are correct or incorrect? 27.A nation maximizes satisfaction by reaching the…

A: Note: Since, you've posted question with multiple sub-parts, we will solve the first the first three…

Q: Classify the following as microeconomics or macroeconomics and provide a justification for your…

A: Microeconomic is that economic branch that decides on scarce resource allocation by studying the…

Q: Which of the following statements is a positive statement? cigarettes ought to be taxed due to…

A: Positive statement is based on facts and figures which can be tested and verified with given…

Q: In modern economic society: Which one of the following is not accurate? a. Market use all factors of…

A: Modern economic society: The modern economic theory implies an economic system of the combination of…

Q: The poverty line for one person in Sichuan is about 6000 RMB. If you use the square root equivalence…

A: The people in an economy are divided into above poverty line and below poverty line based on the…

Q: Select True or False for each. Structural transformation, which is key to economic development,…

A: Since question 2 is incomplete, we will answer 1, 3 and 4 only. Please resubmit the question with…

Q: Compare the description with places of extreme wealth and poverty within a peripheral country.

A: Self-development is the personal development of capabilities, quality of life, potential, and…

Q: Which of the following is the most critical factor contributing to poverty reduction across the…

A: The most critical factor playing a role in poverty reduction across the world is commerce, trading,…

Q: Adam Smith believed that a nation would produce the maximum wealth by relying on government to make…

A: Adam Smith is known as the father of capitalism due to his significant contribution to the findings…

Q: Which of the following is most likely to make a country’s income distribution more equal? a.…

A: The income distribution is fully equal if everyone earns precisely the same amount of money. In most…

Q: Which of the following models, if any, rests on the assumption of competitive factor markets?…

A: Competitive factor markets It's a structure or system in which the product and factor markets are…

Q: Question 4 Senator Maki argues that replacing the income tax with a national sales tax would…

A: Answer (4): Senator Maki argues that sales tax will increase the level of output, where he is…

Q: Public choice analysis indicates most income transfers will be directed toward the poor. O…

A: Public choice is a branch of economics that is developed from the study of taxation and public…

Q: In what specific ways (socially, economically, intellectually) was the 1920s a “new era”? Develop…

A: 1920 is said to be new era because America’s economy was at boom due to technological progress which…

Q: According to the U.S. Census Bureau, income inequality in the United States was "significantly…

A: Income distribution is the smoothness or equality with which income is being dealt out among the…

Q: Which of the following government policies is least likely to increase the standard of living in the…

A: Define: The standard of living refers to the material well-being of the average person in a…

Q: Currently, in the United States, poverty rates are comparatively low Group of answer choices for the…

A: The above question is based on 2011 data.

Q: Which of the following is NOT one of the key fundamental economic questions of an Economic System?…

A: 26) An economic system is any system which is made up by assigning its scarce resources.

Q: Which of the following statements are true about income inequality? Choose all that apply. A. Income…

A: Inequality in terms of income refers to the manner in which a population's income is allocated…