The level of money income below which a family is considered poor is called the:
a. bottom 20 percent of the income distribution.
b. poverty income level.
c. guaranteed income level.
d. subsistence income level.
b
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Why is the Social Security system in crisis at a time when it's running large surpluses? What's the source of the problem? What solutions have been proposed?
What will be an ideal response?
There are no arguments in favor of inheritance taxation on efficiency grounds, only on equity grounds
a. True b. False
A summary of a country's economic transactions with foreign residents and governments is called the
A) current account balance. B) capital account balance. C) balance of trade. D) balance of payments.