Each of these statements is true except
A. Female-headed black families with children under 18 have a poverty rate of almost 47%.
B. Female-headed white families with children under 18 have a poverty rate of almost 35%.
C. All families receiving public assistance are poor.
D. All poor families receive public assistance.
D. All poor families receive public assistance.
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The price ceiling depicted in the above figure results in
A) consumer surplus increasing from $30 thousand to $34.5 thousand. B) producer surplus decreasing from $24 thousand to $6 thousand. C) a deadweight loss of $16 thousand. D) Both answers A and B are correct.
Fiscal policy is defined as changes in federal ________ and ________ to achieve macroeconomic objectives such as price stability, high rates of economic growth, and high employment
A) taxes; the money supply B) taxes; interest rates C) taxes; expenditures D) interest rates; money supply
Refer to Figure 4-1. If the market price is $3.00, what is the consumer surplus on the second ice cream cone?
A) $0 B) $0.50 C) $3.00 D) $5.50
Which of the following does not describe a characteristic of short-term economic fluctuations?
A. Expansions and recessions are irregular in length and severity. B. Expansions and recessions are felt in only a few sectors of the economy. C. Durable-goods industries are more sensitive to short-term fluctuations than service and non-durable industries. D. The unemployment rate rises during recessions.