According to the World Bank, almost 2 billion people are classified as being in severe poverty.
Answer the following statement true (T) or false (F)
True
The World Bank classifies 2 billion people as being in severe poverty.
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A consequence of the CPI bias is that it
A) decreases government outlays. B) reduces outlet substitution bias. C) means that it is impossible to measure the inflation rate. D) increases international trade. E) distorts private contracts.
In the demand and supply model of the money market, the
i. supply of money curve is a vertical straight line. ii. supply of money is the quantity that must be held by households and firms. iii. quantity of money is determined by Fed actions. A) i only B) ii only C) iii only D) ii and iii E) i, ii, and iii
Monetary policy will be most effective when
A) the IS curve is flat and the LM curve is flat. B) the IS curve is steep and the LM curve is flat. C) the IS curve is flat and the LM curve is steep. D) the IS curve is steep and the LM curve is steep.
The optimal hiring rule is to employ labor up to the point where:
a. wage = MFC. b. wage = MP. c. wage = MR d. wage = MRP e. wage = TWC.