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toripollard8 toripollard8
wrote...
Posts: 486
4 years ago
Recall the Application about why international trade may reduce measured inequality in the United States to answer the following question(s). While it is conventional wisdom now that inequality in the United States has increased in the last several decades, until recently no one has taken a careful look at the actual living standards of different income groups, taking into account the goods they purchase. Two economists from the University of Chicago, Christian Broda and John Romalis, investigated the living standards of low-income groups and high-income groups based on the goods these groups purchase.


According to this Application, prices for nondurable goods have ________ prices for services.

▸ risen more than

▸ risen less than

▸ fallen more than

▸ risen at the same rate as
Textbook 
Macroeconomics: Principles, Applications and Tools

Macroeconomics: Principles, Applications and Tools


Edition: 7th
Authors:
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Steve T.Steve T.
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4 years ago
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wrote...
4 years ago
Recall the Application about why international trade may reduce measured inequality in the United States to answer the following question(s). While it is conventional wisdom now that inequality in the United States has increased in the last several decades, until recently no one has taken a careful look at the actual living standards of different income groups, taking into account the goods they purchase. Two economists from the University of Chicago, Christian Broda and John Romalis, investigated the living standards of low-income groups and high-income groups based on the goods these groups purchase.


According to this Application, prices for the nondurable goods purchased by the poor have ________ the prices of nondurable goods purchased by the rich.

▸ increased more than

▸ increased at the same rate as

▸ increased less than

▸ decreased at the same rate as
wrote...
4 years ago
increased less than
wrote...
4 years ago
Recall the Application about why international trade may reduce measured inequality in the United States to answer the following question(s). While it is conventional wisdom now that inequality in the United States has increased in the last several decades, until recently no one has taken a careful look at the actual living standards of different income groups, taking into account the goods they purchase. Two economists from the University of Chicago, Christian Broda and John Romalis, investigated the living standards of low-income groups and high-income groups based on the goods these groups purchase.


According to this Application, while inequality has increased in the United States in the last several decades, the study done by Broda and Romalis indicates that

▸ living standards have become even more unequal.

▸ living standards have not noticeably changed over the past several decades.

▸ there is now no noticeable difference in living standards between income groups.

▸ living standards have not become more unequal.
wrote...
4 years ago
living standards have not become more unequal.
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