The poverty rate of the elderly in the United States has
a. been constant since 1959
b. risen since 1959 because people are living longer
c. fallen since 1959 because of the growth in Social Security and Medicare programs
d. fallen since 1959 because of the growth in private retirement plans
e. fallen since 1959, mainly because of inflation
C
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In an expansion, federal tax revenues increase proportionally more than real GDP without the need for any government policy. This increase is an example of
A) the effect of deficit spending. B) discretionary fiscal policy. C) automatic fiscal policy. D) automatic monetary policy. E) discretionary monetary policy.
The United States issues a $10,000 debt forgiveness to Argentina. How is this accounted for in the balance of payments?
A) financial account, U.S. asset import B) current account, Argentina transfer payment C) current account, U.S. service export D) financial account, U.S. asset export E) current account, Argentina good import
Refer to Current and Future Consumption. The diagram shows the case of a
a. representative agent.
b. net borrower.
c. net lender.
d. disequilibrium situation.
An increase in the price of product B resulted in an increase in the demand for product C. This indicates that products B and C are:
a. Normal goods b. Complementary goods c. Inferior goods d. Substitute goods