If real GDP per capita measured in 2009 dollars was $6,000 in 1950 and $48,000 in 2016, we would say that in the year 2016, the average American could buy ________ times as many goods and services as the average American in 1950
A) 1/8 B) 4 C) 8 D) 12
C
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A tax increase ________ disposable income, ________ consumption expenditure, and shifts the IS curve to the ________, everything else held constant
A) increases; increases; right B) increases; decreases; left C) decreases; increases; left D) decreases; decreases; left
The predecessor of TANF was Aid to Families with Dependent Children
a. True b. False
Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a
a. higher unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be higher. b. higher unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment. c. lower unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be lower. d. lower unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment.
The MPC can be defined as the:
a. Change in income divided by the change in consumption b. Ratio of income to saving c. Change in consumption divided by the change in income d. Ratio of saving to consumption