What percent of families are poor for eight or more years?
a. more than 20 percent
b. between 15 and 20 percent
c. approximately 10 percent
d. less than 3 percent
d
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During the post war period,
a. an economic slowdown occurred immediately following the Armistice. b. a vigorous boom began in 1919. c. the Federal Reserve followed a policy of keeping its discount rate below market rates. d. All of the above are correct. e. Only b and c are correct.
Suppose that at current consumption levels an individual's marginal utility of consuming an extra hot dog is 10 whereas the marginal utility of consuming an extra soft drink is 2 . Then the MRS (of soft drinks for hot dogs)—that is, the number of hot dogs the individual is willing to give up to get one more soft drink is
a. 5 b. 2 c. 1/2 d. 1/5
The secondary market for bonds is
a. where new issues of bonds are purchased b. of less importance to our economy than is the primary market c. of less importance to our economy than the stock market d. where bonds that were issued in previous periods are purchased e. a key determinant of the money supply
A recessionary gap exists when potential GDP
a. falls short of equilibrium GDP. b. exceeds equilibrium GDP. c. equals equilibrium GDP. d. All of the above are correct.