Since the War on Poverty was started in 1965, the United States has spent more than $12 trillion on income maintenance programs. The effect has been to
A) reduce poverty levels substantially.
B) reduce poverty levels moderately.
C) have virtually no effect on poverty levels.
D) increase poverty substantially.
Answer: C
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Which of the following would likely be traded in a monopolistically competitive market?
a. Electricity b. Airline Tickets c. Pizza d. Wheat e. Water
The main source of profit for financial institutions is
a. their ownership of stocks in commercial corporations. b. their ownership of real assets received in foreclosures on loans to households. c. the fees charged for holding and servicing checking accounts. d. the difference between interest paid on deposits and interest received on loans. e. the difference between the cost of creating new money and the interest paid on loans.
New technological advancements, such as robots are
a. harmful because they put people out of work. b. helpful because they improve worker productivity. c. harmful because robots are likely to have electrical problems which could cause injuries to people. d. both a and c above.
Which of the following is FALSE about intraindustry trade?
A) Intraindustry trade creates gains from trade. B) Intraindustry trade is due to comparative advantage. C) Intraindustry trade may involve heightened competition and lower prices for consumers. D) Intraindustry trade increases consumer choice.