Some economists believe that poverty can be good for the economy since
A. the desire to avoid poverty provides a powerful incentive to "work hard and play by the rules."
B. countries with high rates of economic growth since the 1980s tend to have less income inequality.
C. poverty discourages child-bearing, leaving women with more time to work.
D. poverty seems to encourage gambling.
Answer: A
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The quantity of real GDP demanded on the AD curve is the equilibrium real GDP when
A) equilibrium expenditure is greater than real GDP. B) aggregate planned expenditure equals real GDP. C) the price level equals the equilibrium price level. D) aggregate planned expenditure is greater than real GDP. E) aggregate planned expenditure is less than real GDP.
How might government policies differ when attempting to reduce the three types of unemployment? Be specific
What will be an ideal response?
Prior to the 1930s, the majority of dollars spent by government was spent at the state and local levels
Indicate whether the statement is true or false
When the economy is at its natural rate of unemployment,
A) it is still experiencing frictional and cyclical unemployment. B) it is still experiencing structural and cyclical unemployment. C) it is still experiencing frictional, seasonal, and structural unemployment. D) it is still experiencing frictional, structural, and cyclical unemployment.