Which of the following contributed most to the large increases in poverty since 1960?
a. increases in air pollution and other externalities
b. federal government budget deficits
c. the increase in the number of elderly individuals
d. rising poverty rates among households headed by females
e. the increase in the number of households headed by females
E
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Explain the extensive economic role of government within a developing country
What will be an ideal response?
The beginning point of a graph (the 0,0 point) is known as
a. ground zero. b. mother lode. c. the origin. d. square one. e. the beginning.
The most basic concept in economics is
A. human need. B. scarcity. C. wealth. D. income.
In the second quarter (three-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined. We can conclude that:
A. nominal income declined by more than personal income. B. the price level rose by more than nominal GDP. C. real wages declined by more than real GDP. D. the price level fell by more than real GDP.