The proportion of the U.S. population below the poverty line
A. rises with upturns of the business cycle.
B. has declined, though somewhat erratically, over the past 40 years.
C. has been virtually eliminated by a vigorous "War on Poverty."
D. covers roughly 20% of the same people year after year.
B. has declined, though somewhat erratically, over the past 40 years.
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When the Fed conducts open market operations, it
A) is engaging in fiscal policy. B) purchases or sells government bonds issued by the U.S. Treasury. C) shifts the demand for money curve. D) also raises taxes at the same time.
Which of the following might cause the demand for ice cream, a normal good, to increase?
a. an increase in the price of ice cream b. an increase in the price of sherbet c. cooler weather d. a decrease in the number of consumers e. a decrease in consumer income
Consider the salary of Mary Sue Nelson, a sales agent for Plain Truth Advertising. Her wage package is W = 1,000 + 0.4Q, where Q is her dollar volume of sales. Her productivity is Q = 200e + µ, where e denotes her hours of effort and µ is a random variable with mean 0. She has an effort cost of C = e2. Under this contract, the expected value of her total wages will be:
A. $4,200.00. B. $3,060.00. C. $1,000.00. D. $200.00.
The historical record indicates that foreign aid has
What will be an ideal response?