Among non-Hispanic whites, blacks, and Hispanics, the group with the highest poverty rate is ______.
Fill in the blank(s) with the appropriate word(s).
blacks
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Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the average propensity to save equal when real disposable income equals $14,000?
A) 1.1 B) 0.91 C) 0.09 D) 0.7
If wages for a certain type of labor were higher in one market than in another, then
A) the differential would exist into the long run. B) labor would move from the high wage market to the low wage market until wages were equal. C) labor would move from the low wage market to the high wage market until wages were equal. D) firms would not be acting as profit maximizers.
Whenever government spending is a substitute for private spending
A) interest rates will rise. B) the Ricardian equivalence theorem holds. C) the effects of expansionary fiscal policy are dampened. D) there is a direct multiplier effect.
In the short-run Keynesian model where the marginal propensity to consume is 0.75, to offset a recessionary gap resulting from a $1 billion decrease in autonomous consumption, transfers must be:
A. decreased by $1 billion. B. increased by $1.33 billion. C. decreased by $1.33 billion. D. increased by $1 billion.