Which statement is true?
A. Employment discrimination has ceased to exist.
B. Women working full time now earn virtually the same amount as men.
C. The poverty rate for blacks and Hispanics is three times the poverty rate for whites.
D. Property income is mainly paid in the form of rent.
C. The poverty rate for blacks and Hispanics is three times the poverty rate for whites.
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The figure above shows the supply curve for a good with
A) a perfectly elastic supply. B) a perfectly inelastic supply. C) an elastic supply. D) an inelastic supply. E) a unit elastic supply.
In the recent Global Economic Crisis, the negative wealth effect caused
A) LM curve to shift to the right. B) LM curve to shift to the left. C) IS curve to shift to the left. D) LM curve to shift to the right.
The multiplier equals
A) consumption/real disposable income. B) change in consumption/change in real disposable income. C) 1/MPC. D) 1/(1 - MPC).
Which of the following statements about the real goods market is not true?
a. Among the most important factors influencing the shape of the aggregate supply curve is the nation's rate of resource utilization. b. Among the key indicators that provide clues about where a nation is on its aggregate supply curve is the unemployment rate. c. If the nation were near the Keynesian range, a strong increase in real GDP would be accompanied by relatively weak rise in the price index. d. In the classical range, a significant increase in real GDP is accompanied by a relatively small increase in the price index. e. All of the above are true.