When the U.S. experiences economic growth, the poverty rate will:
A. fall, because growth has benefited everyone.
B. increase, because growth typically only benefits the richest 1 percent.
C. fall, because growth typically helps the poor more than the wealthy.
D. increase, because growth has benefited the wealthy more than the poor.
A. fall, because growth has benefited everyone.
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How do markets respond to price ceilings and price floors? Do attempts to repeal the laws of supply and demand meet their objectives?
What will be an ideal response?
In part, the increase in the labor force participation rate in the United States over the last 50 years can be attributed to
A) unsuccessful job seekers becoming discouraged workers. B) technological change in the home increasing the time available for paid employment. C) recessionary periods followed by longer expansionary periods. D) early retirement by men in the labor force. E) the large increase in the men's labor force participation rate overcoming the large decrease in the women's labor force participation rate.
By increasing the required reserves, the banking industry will have more excess reserves available for lending.
a. true b. false
The change in the price of a foodstuff will be greater,
A) the smaller the change in the supply of the foodstuff. B) the greater the change in the supply of the foodstuff and the more inelastic the demand curve for the foodstuff. C) the lesser the change in the supply of the foodstuff and the more inelastic the demand curve for the foodstuff. D) the greater the change in the supply of the foodstuff and the more elastic the demand curve for the foodstuff. E) the lesser the change in the supply of the foodstuff and the more elastic the demand curve for the foodstuff.