If the official poverty line for a family of four is $12,000, then the Department of Agriculture's minimum food bundle costs a family of four ________ per year.
A. $1,000
B. $3,000
C. $4,000
D. $12,000
Answer: C
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A government program, once started, perpetuates itself because those in charge of administering the program often become its strongest supporters
a. True b. False
From 1999-2001, the U.S. Federal Reserve ___ nominal interest rates, and it ___ the policy in 2001 due to concerns over ___
a. lowered; continued; recession b. raised; reversed; inflation c. raised; reversed; recession d. lowered; continued; inflation
The principal factor determining velocity is the
A. level of income. B. frequency with which paychecks are distributed. C. frequency with which taxes are paid. D. growth rate of real output.
In the above figure, along which range would total revenue rise by lowering prices?
A. below point e B. between point d and point e C. between point c and point d D. between point a and point b