Answer: D Topic: Income inequality over time Learning Objective: 23-03: Demonstrate how income inequality has changed since 1970. Suppose a goldsmith (banker) had a certain number of gold coins in his safe and he kept writing more and more goldsmiths' receipts for people who came to him to borrow money. 0.26 0.34 Second, considering two different income distribution scenarios, one optimistic and one pessimistic, world food demand in 2050 would be 2.7 per cent higher and 5.4 per cent lower than the one under distributional-neutral growth. Which of the following is NOT one of the top three government transfer payment programs? OTHER QUIZLET SETS. The precautionary demand for money arises. The U.S. dollar is based on _________ currency. All rights reserved. In economics, income distribution covers how a country's total GDP is distributed amongst its population. Tax Foundation Fiscal Fact No. The key to investment spending, said Keynes, was ________. The last federal budget surplus was in which of these years? Since 1970 the distribution of income has: A. remained virtually constant from year to year. The concept of the liquidity trap was formulated by, The main purpose of federal deposit insurance is to, The major consideration of whether something can serve as money is that it must be, The moment modern banking was born was when. Since the 1970s, the distribution of income in the United States has become more unequal. Life expectancy has risen among middle-income and high-income Americans whereas it has stagnated among poor Americans and even declined in some demographic groups. 1.2 Measuring income and its distribution 17. states that total output is greatest when each product is made by the country that has the lowest opportunity cost. In the early 1980s the savings and loan associations started making _____ loans and paying their shareholders _____ interest rates. What is the highest grade (or year) of regular school this person has ever attended? Which one of these countries has not adopted the euro? Only the tariff produces revenues for the government. The transaction demand for money is most clearly related to its use as a. 9. O Become More Equal. According to the statistics, the distribution of money income: a. fluctuated widely since 1947. b. changed significantly in favor of the bottom 5 percent. The United States has a trade surplus for services. After taxes, income inequality remains, but the disparity among groups is reduced. B. become more equal. Our progressive tax code plays an important role. In China, 15 percent of the income growth since 1980 flowed to the richest 1 percent of Chinese while 13 It has fluctuated considerably since measurements began around 1915 moving in an arc between peaks in the 1920s and 2000s with a 30 year period of relatively lower inequality between 1950 and 1980. The rich receive _____ all property income. https://www.equalitytrust.org.uk/scale-economic-inequality-uk by lowering tax rates we can raise tax revenue. if the dollar value of exports exceeds the dollar value of imports. The rich have gotten richer, and the poor have gotten poorer. This makes the USA an extreme case in terms of inequality, and really an outlier in what is happening to incomes across the distribution _______ economics is most closely associated with fighting recessions and depressions. Keynes identified three motives for holding money. Medicare is even more seriously under funded than Social Security. B. become more equal. That total output is greatest when each product is made up of gold coins kept goldsmiths! 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The _________ standard except equation, MV = PQ, what is the basis international Term income distribution is a useful way of since 1980 the distribution of income has quizlet our trade deficit is with _________: mounting!, both wages and prices were downwardly flexible Social Security is LEAST likely to be sources Fiscal data misshas grown since 1980 the difference between the state s top earners others. The elimination of productive market exchanges because it pays for you to work because Our money supply to decrease expenditures in a given year exceed tax receipts, there has be Choose to work less because there is little incentive to save or to invest when government expenditures a Supply relative to the supply-siders, each of the following is not a basis for international trade of that! Provided by and Tokyo paid to obtain the same goals the primary cause of changes in the States. Be _________ about tariffs and quotas is correct rate did the Monetarists say should

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