Public schools are often homogenous because of neighborhood attendance boundaries
a. True b. False
a
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If initially the money supply is $2 trillion, velocity is 5, the price level is 2, and real GDP is $5 trillion, a fall in the money supply to $1 trillion
A) reduces real GDP to $2.5 trillion. B) causes velocity to rise to 10. C) decreases the price level to 1. D) decreases the price level to 1 and decreases velocity to 2.5.
Which of the following equations illustrates the equilibrium level of income with respect to the simple Keynesian closed-economy model?
a. Y = [1/(1 ? b)](a ? bT ? I + G) b. Y = [1/(1 ? b)](a + bT + I + G) c. Y = [1/(1 + b)](a ? bT ? I ? G) d. Y = [1/(1 ? b)](a ? bT + I + G) e. Y = (1 ? b)(a + bT + I + G)
Recall the Application about the effects of increasing state level Earned Income Tax Credit (EITC) on child health in the United States to answer the following question(s).Recall the Application. According to the study cited in the Application, does EITC improve income distribution?
A. Yes, aside from increasing income for low-income households, it improves the health levels of the worker and their families. B. Yes, EITC encourages workers to sop working and get an education in the health industry. C. No, only the politicians get rich because of EITC. D. No, the level of spending on EITC is so low it has no measurable effects on incomes of the poor.
Some economists criticize the Lorenz curve because it
A) includes too many things in measuring income, such as food stamps, housing aid, and other government programs. B) does not account for the effect of age on a family's income. C) measures unreported income earned in the underground economy. D) uses after-tax income when pre-tax income is more appropriate.