According to official U.S. statistics, the U.S. poverty rate has been approximately ________ percent for the last 40 years.
A. 4 to 13
B. 11 to 15
C. 12 to 20
D. 5 to 18
Answer: B
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The sum of the marginal propensity to consume (MPC) and the marginal propensity to save (MPS) is
A) equal to one. B) greater than one. C) negative. D) less than one.
Which of the following most accurately describes world population growth?
a. World population has increased steadily during the past 6,000 years. b. World population has exhibited significant cyclical patterns of growth and decline. c. World population was relatively small until 1750, after which it increased rapidly. d. World population was small until World War II, after which it increased very quickly.
The official poverty level in the United States
a. has been the same since 1980 b. is the same as in other developed countries because it is based on a United Nations definition c. is defined by the United Nations d. is defined by the Department of Agriculture and based on food costs e. has been adjusted for inflation but not for changes in family size
If aggregate expenditures exceed real GDP, then:
a. employment falls. b. the economy will have deflation. c. firms are depleting their inventories. d. the money supply will increase.