An Increase in the Public Debt and Its Subsequent Repayment

question 114

Multiple Choice

An increase in the public debt and its subsequent repayment will tend to:

• A) Mildly reduce the income inequality in the U.S.
• B) Mildly increase the income inequality in the U.S.
• C) Have no impact on the income distribution in the U.S.
• D) Make the income distribution more equitable in the U.S.

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Definitions:

Josip Broz

Known as Tito, he was a Yugoslav communist revolutionary and political leader who served as Prime Minister (1945–1963) and President (1953–1980) of the Socialist Federal Republic of Yugoslavia.

Standard of Living

The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a geographic area.