Between 1994 and 2000 the poverty rate ____ and the number of people on welfare ______.
A. declined; declined
B. rose; rose
C. rose; declined
D. declined; rose
A. declined; declined
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Which tool do economists use to determine the effect of an economic event on equilibrium price and quantity?
a. equilibrium price b. the four-step process c. demand schedule d. supply schedule
Which of the following statements is not correct?
a. Libertarians are opposed to redistributing income. b. Critics of the welfare system argue that it breaks up families. c. One of the problems with measuring income inequality is valuing in-kind transfers. d. Utilitarians believe that the government should punish crimes but should not redistribute income.
Which of the following is a measure of economic growth that is most useful for measuring geopolitical preeminence or military potential?
A. Growth in nominal GDP B. Decreases in the rate of unemployment C. Increases in real GDP per capita D. Increases in real GDP
From 1979 to 2011, which country had the highest growth rate of GDP per hour of work?
a. Singapore b. United Kingdom c. France d. Japan