During 1959 through 2010, the percent of poor families headed by an elderly person
a. rose.
b. steadily declined.
c. remained virtually unchanged.
d. steadily increased until 1980 when it began to decline.
B
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When a nation joins the IMF, it deposits funds into an account. These funds have a value based on a weighted average of
A) the Russian ruble, the British pound sterling, the Japanese yen, and the U.S. dollar. B) the euro, the British pound sterling, the Japanese yen, and the U.S. dollar. C) the Russian ruble, the British pound sterling, the Chinese yuan, and the U.S. dollar. D) the euro, the British pound sterling, the Chinese yuan, and the U.S. dollar.
Which of the following is most likely to lead to an increase of 1% in the nominal demand for money?
A) An increase in real income of 0.5% B) A decrease in real income of 0.5% C) A decline of 1% in the price level D) An increase of 1% in the price level
The long-run aggregate supply curve of an economy corresponds to
A) a point inside the production possibilities curve. B) a point outside the production possibilities curve. C) a point on the production possibilities curve. D) none of the above: there is no relationship between the long-run aggregate supply curve and the production possibilities curve.
Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index (CPI) is currently 110 . This indicates the price of the market basket of goods and services is now:
a. $110. b. $1,000. c. $1,100. d. $1,225.