Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
1

Transcribed Image Text:1. Briefly discuss what measuring inequality involves, and provide two examples for doing so.
2. Briefly compare and contrast the effects and outcomes of pushing too aggressively and pushing moderately for
economic equality.
3. The gains from expanding trade are probably most important for the low-income economies in the world as opposed to
the gains though trade benefiting the USA. Why might this be so? Offer at least three different reasons comparing and
contrasting the USA economy with that of smaller nations.
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