Which statement is true?
A. Poverty has been a problem only since 1933.
B. Poverty cannot be inherited.
C. There are more poor Americans today than at any other time in our history.
D. Poverty is less of a problem today than it was in the early 1960s.
D. Poverty is less of a problem today than it was in the early 1960s.
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Critics of the government's fiscal policies argued that government deficits
A) prevented capital from flowing into the United States. B) were linked to the excess of imports over exports that occurred in the 1980s. C) caused the level of unemployment in the United States to increase during the 1980s. D) had directly contributed to a decline in the level of demand in the American economy.
Which of the following explains why a $100 billion reduction in consumption spending might decrease equilibrium real GDP by more than $100 billion?
a. Say's law. b. The quantity theory of money. c. Flexible resource prices. d. The multiplier principle.
Predatory pricing is a form of barrier to entry
Indicate whether the statement is true or false
The income elasticity of demand for caviar tends to be
a. high because caviar is relatively expensive. b. low because caviar is packaged in small containers. c. high because buyers generally feel that they can do without it. d. low because it is almost always in short supply.