Which of the following groups has experienced the greatest decrease in poverty rates since 1959?
a. the elderly
b. children
c. people 18 to 64 years old
d. women
e. none of the above (i.e., all of these groups have had higher poverty rates)
A
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The price that U.S. consumers pay for goods imported from Mexico has fallen and the quantity of U.S. imports from Mexico has ________
Because of these changes, the winners are U.S. ________ of goods imported from Mexico and the losers are U.S. ________ of goods imported from Mexico. A) increased; consumers; producers B) decreased; producers; consumers C) increased; producers; producers D) increased; producers; consumers E) decreased; consumers; producers
The establishment of an income tax, ceteris paribus, will result in
A) a lower expenditure multiplier. B) a higher expenditure multiplier. C) no change in the size of the multiplier. D) None of the above.
Lindsey's auto-insurance company issued her a policy that required the installation of a devise that monitors her driving habits. Lindsey is confused because she had never gotten into an accident before she bought the insurance. The insurance company is protecting itself against
a. Adverse selection b. Moral hazard c. Bad drivers d. None of the above
Discuss some of the arguments that help explain why wages and prices rarely fall in a modern economy