_______% of the people on welfare lives below the poverty line.
Fill in the blank(s) with the appropriate word(s).
100
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Explain the effects of a permanent increase in the U.S. money supply in the short run and in the long run. Assume that the U.S. real national income is constant
What will be an ideal response?
If a production process creates positive externalities, a competitive market produces too few positive externalities because the producer
A) does not pay all the costs of the externalities. B) does not receive compensation for the externalities. C) Both A and B. D) None of the above.
In early 1996, Congress passed the "Freedom to Farm Bill.". Following the bill's enactment,
a. farmers found that competition from international agriculture declined. b. farm prices rose steadily for the next 4 years. c. agriculture was completely deregulated, and farmers began to operate without any government subsidies or assistance. d. farm prices fell, leading Congress to authorize emergency payments to farmers in 1998 and 1999.
One way in which the Phillips curve is misinterpreted is to think of it as
a. a model of economic activity that explains changes in unemployment and inflation by changes in aggregate demand. b. a statistical relationship between inflation and unemployment. c. depicting a number of alternative equilibrium points the economy could achieve. d. All of the above.