Research suggests that about ________ percent of people living under the poverty line in any given year are chronically poor.
A. 8
B. 13
C. 38
D. 3
Answer: D
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If a sailboat manufacturer has an agreement with the firm that produces the sails for the sailboats, this is an example of a ________ agreement.
A) horizontal B) rightward C) vertical D) leftward
Programs that automatically increase government spending (relative to revenue) during a recession and automatically decrease government spending (relative to revenue) during an economic boom are called:
A. discretionary fiscal policy. B. supply-side programs. C. automatic stabilizers. D. tax credits.
If the required reserve ratio is 10 percent and a bank receives a deposit of $1,000, how much may the bank loan out?
A. $100 B. $200 C. $900 D. $300
One of the problems with the definition of economic growth is that
A. it does not account for the distribution of income. B. it understates economic growth because it does not account for a higher standard of living. C. it overstates economic growth because it does not account for the reduction in work time. D. it overstates economic growth because it does not account for leisure time.