About one out of every _________ Hispanics is poor.
Fill in the blank(s) with the appropriate word(s).
four
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One shortcoming of real GDP as an indicator of society's social well-being is that it fails to take into account the:
A. growth in productivity. B. increase in the quantity of goods. C. change in the price level. D. non-market production.
In 2012, the combined expenditures of federal, state, and local governments in the United States were approximately
a. 9 percent of GDP. b. 24 percent of GDP. c. 38 percent of GDP. d. 45 percent of GDP.
If society will gain by producing more X, then it must be the case that currently
A. PX = MCX. B. either PX > MCX or PX < MCX. C. PX > MCX. D. PX < MCX.
Refer to Table 15-5. Suppose the table above illustrates the values of real and potential GDP and the price level if the Fed does not vote to change their current policy to be more contractionary or expansionary
Suppose that the Fed uses an appropriate policy and is successful in keeping real GDP at potential in 2017. State whether each of the following will be higher or lower than if the Fed had taken no action: a. Real GDP b. Potential real GDP c. The price level d. The unemployment rate