The poverty rate for African Americans is:
A. greater than for any other racial or ethnic group.
B. below that for whites.
C. considerably lower than that for Hispanics.
D. below that for persons 65 years of age or older.
Answer: A
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Which of the following is correct when the perfectly competitive firm is producing its long-run equilibrium output level?
a. MR equals MC. b. AR equals ATC. c. P equals MC. d. All of these.
Refer to Figure 24-4. In the figure above, AD1, LRAS1 and SRAS1 denote AD, LRAS and SRAS in year 1, while AD2, LRAS2 and SRAS2 denote AD, LRAS and SRAS in year 2
Given the economy is at point A in year 1, what is the actual growth rate in GDP in year 2? A) 2.5% B) 7.3% C) 8.0% D) 10.0%
A binding price floor is: a. set with the aim of increasing the consumer surplus. b. set at the equilibrium price level
c. set below the equilibrium price level. d. set above the equilibrium price level.
ItemBillions of DollarsCheckable Deposits$597Small Time Deposits818Currency639Money-Market Mutual Funds Held by Businesses1,045Savings Deposits, Including Money-Market Deposit Accounts2,866Money-Market Mutual Funds Held by Individuals979Refer to the above table. The size of the M1 money supply is:
A. $979 billion. B. $1618 billion. C. $1236 billion. D. $1415 billion.