Convergence of the income gap has been most dramatic between Select one: O a. South America and the United States. O b. the Central European countries and the United States. C. Africa and the United States. d. Hong Kong and the United States.

For which of the following type of countries is the divergence between GNP per capita measured at official exchange rates and at purchasing power parity (PPP) likely to be largest? O the least developed countries the advanced economies open market economies industrialized countries

Which statement is true? The fewest number of people in the United States are in the middle class. O The least number of people in the United States are in the working class. O The greatest number of people in the United States are in the working class. The largest number of people in the United States are in the middle class.

1) If a county becomes less likely to default on its bonds, what happens to that country’s interest rate and exchange rate? Explain. 2)

2. In the United States, two government programs that provide economic assistance to poor families are the Earned Income Tax Credit (EITC) and Temporary Assistance to Needy Families (TANF). According to economic theory, how do these programs affect the labor supply of eligible families? O Both programs increase labor force participation. O Both programs decrease labor force participation. O The EITC increases labor force participation, whereas TANF decreases labor force participation. O TANF increases labor force participation, whereas the EITC decreases labor force participation. O Among those who work, both programs increase hours of work.

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