Which of the following correctly describes the trend in the percentage of U.S. families living in poverty?
a. The poverty rate has steadily increased from approximately 5 percent in 1960 to over 40 percent in 1997.
b. The poverty rate has steadily declined from approximately 40 percent in 1960 to under 5 percent today.
c. The poverty rate steadily declined from about 22 percent in 1959 to about 12 percent in 1969, and has fluctuated since then. The poverty rate in 2002 was approximately 12.1 percent.
d. The poverty rate steadily increased from about 12 percent in 1960 to about 22 percent in 1970, and has fluctuated since then.
c
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A tax on suppliers will cause the ________ schedule to shift ________.
A. supply, right B. demand, right C. demand, left D. supply, left
In 2009, Congress passed a bill that involved government spending increases and tax cuts with the purpose of stimulating the U.S. economy. This policy is an example of
A) an automatic stabilizer. B) contractionary fiscal policy. C) expansionary fiscal policy. D) expansionary monetary policy.
Historical actions indicate that the Fed's primary goal of monetary policy over the past 30 years has been to
A) maintain high interest rates. B) keep employment rates low. C) limit the availability of consumer credit. D) prevent high rates of inflation.
The consumer price index includes all of the following goods and services except
a. bonds of US corporations b. French wine c. Japanese VCRs d. used cars e. toiletries