Answer the following statements true (T) or false (F)
1. The poverty rate for female householders without a husband present exceeds the poverty rate for blacks and Hispanics.
2. The biggest disincentive to employment for those on welfare is the effect of taxes as they earn income.
3. For many welfare recipients, taking a job reduces income.
4. As incomes rise, transfer benefits to the poor decrease.
5. A minimum wage rate job raises a family out of poverty.
1. TRUE
2. TRUE
3. TRUE
4. TRUE
5. FALSE
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The more human capital workers have, the:
A. less productive they are. B. more productive they are. C. lower the value of their marginal product. D. more technology they will require for their job.
Refer to Figure 10.2. Which line represents earnings?
A. a
B. b
C. c
D. h
The Consumer Price Index measures inflation by using
A) only consumption goods and services purchased using a current -year basket. B) only consumption goods and services purchased using a base-year basket. C) all goods and services that are produced using a base -year basket. D) all goods and services that are produced using a current-year basket. E) A and D.