In recent years, what percentage of American families have derived income transfers from at least one government transfer program?
a. less than 20 percent
b. approximately 53 percent
c. approximately 62 percent
d. nearly 75 percent
B
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Larger volume is more likely to be associated with lower prices if the larger volume results from
A) increased demand. B) inelastic demand. C) increased supply. D) elastic supply. E) inelastic supply.
Markets never fail
Indicate whether the statement is true or false
Harry owns a hot dog stand near campus. When a pizza stand opens next to Harry's hot dog stand, he finds that he has to lower the price of his hot dogs in order to attract the same number of customers. Explain why this is the case