Since the War on Poverty was started in 1965, the United States has spent more than $12 trillion on income maintenance programs. The effect has been to
A) reduce poverty levels substantially.
B) reduce poverty levels moderately.
C) have virtually no effect on poverty levels.
D) increase poverty substantially.
C
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Money as a medium of exchange
I. Facilitates the exchange of goods II. Reduces the incentive to barter A) I only B) II only C) Both I and II D) Neither I nor II
A federal system consists of one level of government to provide public goods and services.
A. True B. False C. Uncertain
Suppose a firm uses workers and office space to produce output. The firm is locked into a year-long lease on its office space, but it can easily vary the number of employee-hours it uses each day. The accompanying table describes the relationship between the number of employee-hours the firm uses each day and the firm's daily output. Each unit of output sells for $2, the hourly wage rate is $14, and the rent on the office space is $50 per day.Employee-Hours Per DayOutput Per Day0014048091201516023200 What is the marginal cost of production between 80 and 120 units of output each day?
A. $70 B. $14 C. $1.75 D. $1.40
The money demand curve will shift to the left if:
A. the nominal interest rate decreases. B. the price level increases. C. ATM machines are introduced. D. the nominal interest rate increases.