If the fraction of the population that is below the official poverty level has decreased, then
a. the number of poor must have increased
b. the number of poor must have decreased
c. the population must have increased
d. the number of poor may have increased or decreased
e. the number of people above the official poverty level must have increased
D
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Suppose that the government wishes to finance a one-year war. GDP in the nation before the war is $1,000 . and there are no taxes, no government spending, and no private saving. Private consumption is $1,000 . The government chooses to finance the war by selling Treasury bonds totaling $100 at 10 percent interest. The result is that private consumption becomes
a. $100 b. $900 c. $990 d. $1,000 e. $1,100
A country has a trade deficit. Its
a. net capital outflow must be positive, and saving is larger than investment. b. net capital outflow must be positive and saving is smaller than investment. c. net capital outflow must be negative and saving is larger than investment. d. net capital outflow must be negative and saving is smaller than investment.
Which of the following would not be a prediction from economic labor theory regarding the wage of a field hand?
A. Wages would increase as the price of wheat increased. B. Wages would decrease as interest rates rose. C. Wages would increase with the imposition of restrictions on immigration . D. Wages would decrease when the wheat thrasher increased harvesting productivity.
When quantity supplied equals quantity demanded, there is:
A. disequilibrium. B. excess quantity supplied. C. a market-clearing price (equilibrium price). D. excess quantity demanded.