Those who are chronically poor are defined as those who spend:
A. three or more consecutive years in poverty.
B. at least six consecutive months within a year in poverty.
C. three or more years in poverty.
D. at least two consecutive months within a year in poverty.
Answer: A
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A severe drought has damaged this year's lettuce crop. The initial effect on the lettuce market is a
A) decrease in the demand for lettuce. B) decrease in the supply of lettuce. C) decrease in both the demand and supply of lettuce. D) rightward movement along the demand curve for lettuce.
The FOMC directive does not contain a target
A) growth rate for M1. B) growth rate for M2. C) growth rate for M3. D) federal funds interest rate.
What is the key feature that differentiates business cycle theories?
A) whether the theory was developed before or after the Great Depression. B) whether the theory is Keynesian or non-Keynesian. C) whether the theory also explains economic growth. D) whether the theory explains how monetary policy works.
Uncertainty is the result of ________ information that is often associated with ________ events.
A) incomplete; known B) incomplete; random C) complete; random D) complete; known