Since 1973 the incidence of poverty has generally increased for
A. children.
B. the elderly.
C. married couples.
D. All of the choices are true.
A. children.
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If the slope of an indifference curve between two goods decreases as we move from left to right (dropping all minus signs), we infer that the consumer
A. is less willing to trade away a good when he has a lot of it. B. is more willing to trade away a good when he has a lot of it. C. always tries to keep the percentage of his budget spent on each good constant. D. views one of the goods as inferior.
In the Classical model, the price level is determined by
A) aggregate supply. B) the level of output. C) the Cambridge k. D) aggregate demand.
A Purchasing Manager's Index below 50 indicates
A) a declining retail sector. B) a downturn in economic activity. C) an increase in bond prices in the near future. D) a declining manufacturing sector.
When wages increase, the income effect a. increases the quantity of labor supplied b. increases the supply of labor
c. decreases the quantity of labor supplied d. decreases the supply of labor.