Of the age groups given below, which has experienced the greatest decline in poverty rates in the U.S. since the mid-1960's?
a. Under 18 years old
b. 18 to 64 years old
c. 65 or more years old
d. 40 to 64 years old
c
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Suppose on any given day there is an excess supply of reserves in the federal funds market
If the Federal Reserve wishes to keep the federal funds rate at its current level, then the appropriate action for the Federal Reserve to take is a ________ open market ________, everything else held constant. A) defensive; sale B) defensive; purchase C) dynamic; sale D) dynamic; purchase
In the short-run, an appreciation in the value of the U.S. dollar will tend to cause ________
A) a decrease in the level of income and higher inflation B) an increase in the level of income and higher inflation C) an increase in the level of income and lower inflation D) a decrease in the level of income and lower inflation
The Board of Governors of the Federal Reserve System has
A) 12 members appointed by the president of the United States. B) seven members appointed by the president of the United States. C) seven members appointed to life terms. D) seven members elected by the public. E) 12 members elected by the public.