Exam 2: The Useconomy: a Global View

As of 2015,for income distribution in the United States,the minimum family earnings in the top quintile were nearly ________ times the maximum family earnings in the bottom quintile.

Those who are interested in assessing the relative standard of living of different countries over a given time period are most likely to look at

The World View article titled "The Education Gap between Rich and Poor Nations" says that a greater percentage of people graduate from high school in rich nations than in poor nations.This investment in human capital can lead to

An example of a positive externality is

The cost or benefit of a market activity borne by a third party is

Compare the composition of U.S.output in the year 1900 with its composition in the year 2000.

As of the year 2000,agriculture accounted for what percentage of total U.S.output?

The term externalities refers to

Which of the following statements is true concerning income inequality?

The GDP of the United States includes production by foreign-owned firms that are located in the United States.

According to the World View titled "Income Share of the Rich," in which of the following would the top tenth of the population be most likely to receive the highest percentage of the country's income?

China has roughly how much of the world's population?

Income inequalities are often greatest in the poorest countries.

Income inequality tends to be greatest in

Goods that have spillover costs affect our collective well-being and therefore can be overproduced because

On average over the last century,the U.S.population has grown three times as fast as the U.S.real GDP.

Government intervention to reduce the level of pollution is prompted by the existence of

The World View article in the text titled "Income Share of the Rich" reports,"In poor,developing countries the richest tenth of the population typically gets 40 to 50 percent of all income." Which of the following is a form of government intervention designed to change this situation?

The World View article titled "The Education Gap between Rich and Poor Nations" says that 85 percent of all Americans graduate from high school.This is an example of

Which of the following countries (or regions)produces the most output annually?