Which statement is false?
A. During the Great Depression millions of working-class and middle-class people demanded welfare payments.
B. Until the 1930s the prevalent theory of poverty was that the poor were lazy.
C. The heritage of slavery theory explains most poverty in this country.
D. None of these statements are false.
C. The heritage of slavery theory explains most poverty in this country.
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When at least one productive resource is fixed, the firm is producing
a. in the short run. b. in the long run. c. only one type of product. d. at least two products.
The view that velocity is constant in the short run transforms the equation of exchange into the quantity theory of money. According to the quantity theory of money, when the money supply doubles
A) velocity falls by 50 percent. B) velocity doubles. C) nominal incomes falls by 50 percent. D) nominal income doubles.
Refer to the information above. What is the value of the firm's capital stock at the end of period 5?
A) 612.5 B) 106.75 C) 175 D) 89.25
Figure 2-7
Which of the following could explain the shift in the production possibilities frontier shown in from AC to AB?
a.
technical improvements in both petroleum and clothing production
b.
a productive improvement in clothing production that has no effect on petroleum production
c.
a decrease in the size of the labor force that can produce either petroleum products or clothing
d.
major oil reserves in Alaska are declared off-limits to producers in order to protect the environment
e.
major oil reserves are discovered off the coast of Africa