Which of the following is not correct?
a. Poverty is correlated with race.
b. Poverty is correlated with age.
c. Poverty is correlated with family composition.
d. All of the above are correct.
d
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If the AD curve shifts rightward while the AS curve and potential GDP don't change, then
A) there will be no change in real GDP, so the economy is at the trough of the cycle. B) the expansion phase of the business cycle occurs. C) there will be no change in real GDP, so the economy is at the peak of the cycle. D) the economy will move from a peak into recession. E) real GDP does not change.
The more substitutable capital and labor are in production, the more likely it is that the cross-price demand curve for capital (relative to the wage) is upward sloping.
Answer the following statement true (T) or false (F)
One of the most, if not the most, severe recessions since World War II began in the
A. fall of 2005. B. fall of 2007. C. summer of 1964. D. summer of 1927.
In recent years, the price of wireless earbuds has fallen, while the quantity exchanged of wireless earbuds has risen. We can conclude that this is most likely a result of
A. an increase in supply that exceeded an increase in demand. B. an increase in demand while supply remained constant. C. an increase in demand that exceeded an increase in supply. D. a decrease in supply while demand remained constant.