Which group has the highest poverty rate?
A. Non-Hispanic whites
B. Blacks
C. Hispanics
B. Blacks
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A cartel is defined to be
A) any oligopolistic industry with fewer than 4 firms. B) a form of oligopoly in which firms agree to sell at different prices like in monopolistic competition. C) a form of oligopoly in which firms formally agree to establish a common strategy, often a common price, in effect acting like a monopoly. D) a form of oligopoly in which firms agree to compete with each other on an equal basis.
An increase in the price level might cause:
A. a decrease in the quantity of aggregate demand because of the substitution effect. B. a decrease in the quantity of aggregate demand because of the interest rate effect. C. an increase in the quantity of aggregate demand because of the multiplier effect. D. an increase in the quantity of aggregate demand because of the money wealth effect.
When the Fed uses open market operations by purchasing Treasury securities from various financial institutions in the U.S., there will be
A) an outward shift in the supply schedule of loanable funds. B) an inward shift in the supply schedule of loanable funds. C) no shift in the supply schedule of loanable funds. D) an inward shift in the demand schedule for loanable funds.
The quantity theory of money assumes that velocity is approximately constant resulting in nominal GDP to be proportional to the money stock.
Answer the following statement true (T) or false (F)