The typical public assistance grant in the United States
A. leaves the family well below the poverty line.
B. leaves the family just below the poverty line.
C. puts the family just above the poverty line.
D. puts the family well above the poverty line.
A. leaves the family well below the poverty line.
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Why is GDP not a good measure of aggregate welfare?
A. GDP includes the value of intermediate goods B. trade between countries is not included in GDP C. GDP does not include the value of production done in the home D. the government calculates GDP
At the full employment level of output, the natural rate of unemployment for the U.S. is estimated to be between;
a. 1.0% and 1.5% b. 5.0% and 6.5% c. 2.0% and 3.0%
In the long run, an increase in the individual income tax rate with no change in the corporate profits tax will lead to ________ profits in the corporate sector and ________ profits in the noncorporate sector.
A. lower; higher B. lower; lower C. higher; higher D. higher; lower
In a recessionary expenditure gap, the equilibrium level of real GDP is
A. greater than planned aggregate expenditures. B. greater than full-employment real GDP. C. less than planned aggregate expenditures. D. less than full-employment real GDP.