There is very little economic mobility in the United States, which means that once a family is poor, it is very likely to remain poor for at least a decade
a. True
b. False
Indicate whether the statement is true or false
False
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The following is not a threat to external validity:
A) the experimental sample is not representative of the population of interest. B) the treatment being studied is not representative of the treatment that would be implemented more broadly. C) experimental participants are volunteers. D) partial compliance with the treatment protocol.
Which of the following best describes how recessions are illustrated in the AD/AS diagram?
a. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially above potential GDP, while in years of resurgent economic growth the equilibrium will typically be close to potential GDP. b. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially below potential GDP, while in years of resurgent economic growth the equilibrium will typically be above potential GDP. c. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially below potential GDP, while in years of resurgent economic growth the equilibrium will typically be close to potential GDP. d. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially above potential GDP, while in years of resurgent economic growth the equilibrium will typically be below potential GDP.
If the cost of producing butter increases, what will happen to the equilibrium price and quantity of butter exchanged?Price Quantity
a. Decrease Increase b. Decrease Decrease c. Increase Decrease d. Increase Increase
Concerned about the political fallout from rising gas prices, the US government decides to impose a price ceiling on gasoline of $3 a gallon. If the oil-producing nations increase production and drive the equilibrium price of gasoline to $3 a gallon, ______. The market for gasoline is _____.
Fill in the blank(s) with the appropriate word(s).