As of mid-2009, the unemployment rate for blacks is approximately 1.7 times the rate for
a. Hispanics
b. white teenagers
c. women
d. black teenagers
e. whites
E
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Federal government outlays include ________
A) transfer payments, grants to states, interest payments on the national debt and income tax revenues B) grants to states, interest payments on the national debt, income tax revenues and government purchases C) interest payments on the national debt, income tax revenues, government purchases and transfer payments D) government purchases, transfer payments, grants to states and interest payments on the national debt
If a firm hires labor for $8,000, pays rent of $4,000, buys raw materials for $13,000 from another firm, earns profits of $1,200, and sells its output for $31,000, the value added by the firm is _____
a. $4,800 b. $10,000 c. $18,000 d. $25,000 e. $26,200
The constant velocity of money in the quantity equation implies that any increase in the money supply has to lead directly to:
A. an increase in P. B. an increase in V. C. an increase in Y. D. a decrease in P.
A tax placed on a good
a. causes the effective price to sellers to increase. b. affects the welfare of buyers of the good but not the welfare of sellers. c. causes the equilibrium quantity of the good to decrease. d. creates a burden that is usually borne entirely by the sellers of the good.