In which one of these years was the U.S. poverty rate the lowest?
A. 1960
B. 1964
C. 1973
D. 1983
C. 1973
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According to the Application, Singapore requires workers who are under 50 years of age to save ________ percent of their earnings, with employers contributing another ________ percent
A) 50; 30 B) 20; 15.5 C) 10; 10 D) 40; 20
Which of the following statements is (are) correct? There is agreement between the Keynesians and monetarists that
a. an increase in aggregate demand will increase both output and price in the short run. b. there is a trade-off between inflation and unemployment in the short run. c. in the long run, when the expected price level also has time to adjust, output will not be affected by changes in aggregate demand. d. All of the above e. None of the above
In 1979 and 1980,
a. the U.S. inflation rate as measured by the GDP deflator was higher than that measured by the CPI, and the difference was explained by rapidly rising prices of goods exported by the U.S. b. the U.S. inflation rate as measured by the CPI was higher than that measured by the GDP deflator, and the difference was explained by rapidly rising prices of goods exported by the U.S. c. the U.S. inflation rate as measured by the GDP deflator was higher than that measured by the CPI, and the difference was explained by rapidly rising oil prices. d. the U.S. inflation rate as measured by the CPI was higher than that measured by the GDP deflator, and the difference was explained by rapidly rising oil prices.
Demand for a food item increases by more than the supply of the food item. One thing for certain is that
A) the price of the food item rises. B) income elasticity of demand (for the food item) is greater than 1. C) the supply curve is price elastic. D) real income rises as a result. E) none of the above