Which is the most accurate statement?
A. Poverty can easily be wiped out by giving every adult on welfare a minimum wage job.
B. The basic cause of poverty is that nearly all of the poor are lazy.
C. Within a decade, poverty will no longer be a national problem.
D. There is a hard core of millions of poor people who will need public assistance for many years to come.
D. There is a hard core of millions of poor people who will need public assistance for many years to come.
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Spending money on a new car instead of a used car when you are on a fixed budget is an example of
A) a bad thing to do because you run out of money. B) living on the edge. C) the incursion of an opportunity cost. D) isolating variables.
The national debt can only be reduced if
A) the federal budget is in deficit. B) the federal budget is in surplus. C) there are no tax multiplier effects. D) the economy has a deflationary ga
A shift in the supply curve of bicycles resulting from higher steel prices will lead to: a. higher prices of bicycles
b. lower prices of bicycles. c. a shift in the demand curve for bicycles. d. a larger output of bicycles.
The demand for bread is likely to be more elastic than the demand for solid-gold bread plates
a. True b. False Indicate whether the statement is true or false