If interest rates fall due to a monetary expansion, normally this would:
(a) Lead to lower economic growth.
(b) Lead to higher economic growth.
(c) Lead to deflation.
(d) None of the above.
Answer: (b) Lead to higher economic growth.
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The Proclamation of 1763 and the Quebec Act of 1774 benefited existing farmers with large land holdings because these laws led to
a. decreased farming competition. b. falling land prices. c. lower taxes on farm land. d. increased supplies of western farm land. e. All of the above.
Among non-Hispanic whites, blacks, and Hispanics, the group with the highest poverty rate is ______.
Fill in the blank(s) with the appropriate word(s).
Personal income is
A. the sum of all incomes received by households. B. the income households have after paying federal taxes. C. the sum of all incomes earned by sole proprietorships and partnerships. D. the sum of all incomes received by households on welfare.
Economists use a preference map to illustrate that
A) more is better than less. B) preferences are transitive. C) preferences are complete. D) All of the above.