Poverty is found to be correlated with
a. age and race but not family composition.
b. race only.
c. race and family composition but not age.
d. age, race, and family composition.
d
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In the figure above, production efficiency occurs at ________, and allocative efficiency occurs at ________
A) all points on the PPF; only one point on the PPF B) only one point on the PPF; all points on the PPF C) only one point on the PPF; only one point on the PPF D) all points on the PPF; all points on the PPF E) all points on the PPF; all points above the PPF
Employees at the university have negotiated a 5 percent increase in wages for the next year, based on their inflation expectations. If inflation is actually 4 percent over the next year, which of the following will occur?
A) Unemployment of university employees will fall. B) The decrease in inflation is expected. C) Real wages for university employees will rise. D) Inflation will be 5 percent the following year.
A tax is regressive if it collects a:
a. larger amount as income rises. b. constant amount as income rises. c. smaller fraction of income as income falls. d. smaller fraction of income as income rises.
The defensive and offensive actions of the Fed differ because offensive actions are designed to:
A. change the current monetary policy while defensive actions are designed to reinforce the current monetary policy. B. reinforce the current monetary policy while defensive actions are designed to change the current monetary policy. C. tighten monetary policy and defensive actions are designed to ease monetary policy. D. ease monetary policy and defensive actions are designed to tighten monetary policy.