Data indicate that the large increase in government spending on income transfers that started with the War on Poverty during the latter half of the 1960s has resulted in
a. a substantial reduction in the poverty rate.
b. a more equal distribution of income.
c. fewer single-parent families because a married couple receives benefits twice as large.
d. little change in the official poverty rate.
D
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We would expect the cross-price elasticity of demand between dress shirts and ties to be ________, indicating that they are ________
A. positive; secondary goods. B. negative; complements. C. negative; substitutes. D. positive; complements.
Looking at the components of the income approach we see that
A) compensation of employees is the largest category. B) consumption is the largest category. C) profits are the largest category. D) rental income is the largest category.
The Fed pledged to continue QE3 until:
A) inflation got out of control B) real GDP and employment returned to more normal levels C) the financial crisis was over D) it was time to begin QE4
The line segment RS describes the region where
A. increases in output do not cause higher prices because of a large portion of unemployed resources.
B. prices and output increase together.
C. increases in prices do not generate any increase in output.
D. increases in prices cause decreases in output.