The official poverty income threshold in the United States is:
A. not adjusted for the effects of inflation.
B. adjusted for inflation.
C. adjusted for increases in standard of living.
D. adjusted for changes in the basket of food purchased by the average family.
Answer: B
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Which of the following statements about the Social Security, Medicare, and Medicaid programs is true?
A) Some economists have argued for decreasing taxes to help with these programs' funding problems. B) Spending on these three programs will rise from 9.7% of GDP currently to 10.2% of GDP by 2050. C) Costs are being driven up by the fact that Americans are living longer and medical costs are rising substantially. D) Some economists have argued for increasing benefits to help with these programs' funding problems.
After an increase in demand in a constant-cost industry, firms will find themselves with higher average cost curves
Indicate whether the statement is true or false
A simple macroeconomic model might explain how an increase in the demand for new housing would lead to a decrease in the rate of unemployment. In such a model, which of these variables is likely to be exogenous?
A) the quantity sold of home furnishings B) the degree of unionization of the construction industry C) the wage rate for unskilled workers D) the level of tax revenues E) the demand for concrete
When the federal government is running a budget deficit:
A. government tax revenues exceed government expenditures. B. government expenditures exceed government tax revenues. C. the economy must be in an economic recession. D. the size of the national debt will decline.