The lowest the poverty rate has been during the last 50 years was in
A. 1960.
B. 1967.
C. 1973.
D. 1979.
C. 1973.
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If the GDP deflator is less than 100 in 2013, then nominal GDP ________ real GDP in 2013
A) is less than B) is greater than C) is equal to D) may be greater than or less than
Suppose Ford, GM, and Dodge make the majority of pick-up trucks sold in the United States If they all sell for approximately the same price, and Ford offers a $2,000 rebate on new truck sales, what can Ford expect to see?
a. an unprecedented increase in truck sales b. an immediate response by GM and Dodge c. a visit from the antitrust authorities of the government d. a revolution from Ford stockholders e. announcements by GM and Dodge that plans are underway to produce a much cheaper pick-up truck in six years
The notion that the value of money is determined by the overall quantity of money in existence is known as the:
A. quantity theory of money. B. money quantity theory. C. price level theory. D. level theory of prices.
Which of the following programs is most clearly advantageous to those with lower levels of income?
a. farm subsidy programs b. the Social Security retirement program c. the Earned Income Tax Credit d. credit subsidies provided by the Import-Export bank to business firms that sell goods abroad