Which statement is false?
A. The poverty rate was lower in 2009 than it was in 2000.
B. The poverty rate for children under 18 is higher than the poverty rate for people over 65.
C. The poverty rate today is higher than it was in 2006.
D. The poverty rate for Hispanics is three times that of whites.
A. The poverty rate was lower in 2009 than it was in 2000.
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A waitress brings a free glass of wine when you sit down in a restaurant. This glass of wine is
A) a service because the waitress carried it instead of making it. B) a good, but not an economic good because there is no price charged for the wine. C) a nongood because there is no price charged for the wine. D) an economic good because wine is produced with scarce resources, even if it is free to you.
Currency devaluations hurt consumers because they make imports ________ expensive in the _____________ currency
a. Less; domestic b. Less; foreign c. More; domestic d. More; foreign
Why is the aggregate expenditure model important to economists?
a. It helps explain fluctuations in the economy that can cause major disruptions. b. It illuminates methods of fostering long-term growth in the economy. c. It explains why the economy sometimes produces beyond the natural rate of real output. d. It aids economic planning by providing a measure of the level of inflation in the economy.
"Crowding out" refers to federal government deficits financed by:
A. borrowing which increases interest rates and thereby reduces private spending. B. increasing taxes which reduces private spending. C. the federal government buying foreign debt which reduces the amount of government spending and government programs. D. reducing government spending which reduces interest rates.