The poverty rate in the United States is lowest for:
A. whites.
B. blacks.
C. Hispanics.
D. Asians.
Answer: D
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
What kind of elasticity is relevant when you are trying to figure out how a price cut by the burger shop next door will affect the demand for your pizza? Explain
What will be an ideal response?
Expansionary monetary policy refers to the Fed's increasing the money supply and increasing interest rates to increase real GDP
Indicate whether the statement is true or false
An increase in government spending shifts aggregate demand
a. to the right. The larger the multiplier is, the farther it shifts. b. to the right. The larger the multiplier is, the less it shifts. c. to the left. The larger the multiplier is, the farther it shifts. d. to the left. The larger the multiplier is, the less it shifts.