Those who are chronically poor are defined as those who spend:
A. three or more consecutive years in poverty.
B. at least two consecutive months within a year in poverty.
C. three or more years in poverty.
D. at least six consecutive months within a year in poverty.
A. three or more consecutive years in poverty.
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When real planned saving is greater than real planned investment spending
A) real GDP will increase. B) the interest rate will increase. C) the interest rate will decrease. D) real GDP will decrease.
A movement along a demand curve is most likely to be caused by
A) a change in the population. B) a change in expectations. C) a change in income. D) a change in the price of a good.
In the short run, the firm makes zero economic profit when the price is ________ minimum average total cost, makes an economic profit when the price is ________ minimum average total cost, and incurs an economic loss when the price is ________
minimum average total cost. A) equal to; higher than; lower than B) equal to; lower than; higher than C) higher than; equal to; lower than D) lower than; equal to; higher than
If the economy is falling below potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? An increase in
A) government purchases. B) the money supply and a decrease in interest rates. C) taxes. D) oil prices.