Lyndon Johnson’s “War on Poverty” started in the 1980s.
Answer the following statement true (T) or false (F)
False
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In the 1990s, Congress considered an agriculture bill that would gradually reduce price supports for many agricultural products. If the bill were to be approved, what would most likely happen to the number of families employed in agriculture?
A. It would decrease, because agricultural prices would fall. B. It would decrease, because agricultural prices would rise. C. It would increase, because agricultural prices would fall. D. It would increase, because agricultural prices would rise.
The deficit is
A) the amount by which government purchases, transfers, and net interest exceed tax revenues. B) the amount by which government purchases and transfers exceed tax revenues. C) the primary deficit minus net interest payments. D) total tax revenues minus net interest minus government expenditures.
Figure 13-2 above illustrates an economy with an unstable commodity demand and two possible Fed policies, a constant real money supply or a constant interest. Which policy target promotes a stable economy best?
A) constant money supply, A0 to A1 B) constant money supply, B0 to B1 C) constant interest rate, A0 to A1 D) constant interest rate, B0 to B1
Which of the following occurrences likely accounts for the situation shown?
a. a change in human capital
b. a decrease in government regulations
c. a permanent change in the supply of inputs
d. a negative supply shock