Charles Murray points out that
A. despite substantial increases in the money that the federal government spent on antipoverty programs between 1968 and 1980, the poverty rate remained exactly the same.
B. although federal spending on antipoverty programs fell substantially between 1968 and 1980, the poverty rate remained exactly the same.
C. the only way to substantially reduce the welfare rolls is to enroll all the poor in job training programs that lead to well-paying jobs.
D. despite the rising number of poor people in recent years, the federal antipoverty programs have been successful.
A. despite substantial increases in the money that the federal government spent on antipoverty programs between 1968 and 1980, the poverty rate remained exactly the same.
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A price floor set above the equilibrium price
A) creates a surplus. B) creates a shortage. C) creates excess demand. D) balances supply and demand. E) has no effect.
Firms that face downward-sloping demand curves for their output are called
a. perfectly competitive b. price takers c. price searchers d. resource price takers e. resource price searchers
The neoclassical view is not especially helpful in explaining why __________ moves up and down over short time horizons of a few years.
a. demand b. unemployment c. prices d. inflation
Many economists are in favor of increased immigration of adult foreigners who possess high levels of skills and education. Why?
a. Economists are very caring individuals. b. Economists believe this is a way to increase understanding among different ethnic groups. c. Economists believe foreigners will work cheaper. d. Economists believe this will increase aggregate supply.