Which statement is true?
A. Poverty has been a problem only since 1933.
B. Poverty cannot be inherited.
C. There are more poor Americans today than at any other time in our history.
D. Poverty is less of a problem today than it was in the early 1960s.
D. Poverty is less of a problem today than it was in the early 1960s.
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Perfectly inelastic demand curves are vertical.
Answer the following statement true (T) or false (F)
Which of the following statement(s) best describes scarcity?
a. Even if the budget constraint or a PPF shifts, scarcity remains—just at a different level. b. If the budget constraint shifts, scarcity disappears. c. If a PPF shifts, scarcity disappears. d. Scarcity is not dependent on the budget constraint or a PPF shift.
In a fixed exchange rate system,
A. The capital account surpluses must offset current account deficits. B. A country can eliminate a surplus of its currency by eliminating its protectionist barriers to trade. C. A balance-of-payments deficit can be corrected by expansionary fiscal and expansionary monetary policies. D. Excess demand for a currency is eliminated by using foreign exchange reserves to increase demand.
The word “economy” comes from the Greek word oikonomos, which means Question 39 options: “environment.” “production.” “one who manages a household.” “one who makes decisions.”
a. "environment"
b. "production"
c. "one who manages a household"
d. "one who makes decisions"