Between 1970 and 2010, the poverty rate in East Asia declined dramatically from about 60 percent to less than 1 percent, while the poverty rate in Sub-Saharan Africa decreased from 40 percent to only 24 percent. The main reason for this is that
A) The countries of East Asia have progressive income tax systems. The countries of Sub-Saharan Africa all have regressive income tax systems.
B) Governments in East Asia increased transfer payments to poor families over this period of time. The governments of Sub-Saharan Africa had practically no transfer payment programs from 1970 to 2010.
C) the population growth rate decreased in East Asia and increased in Sub-Saharan Africa.
D) East Asia experienced higher economic growth than Sub-Saharan Africa.
Question 2
Refer to Figure 23-1. At point L in the figure above, which of the following is true?
A) Actual inventories are greater than planned inventories.
B) The economy has achieved macroeconomic equilibrium.
C) Aggregate expenditure is greater than GDP.
D) GDP will be increasing.
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