Over time, poverty in the United States, as measured by the number of poor, has increased the most
a. among women because of discrimination
b. among women because of an increasing divorce rate
c. among households headed by women
d. among the elderly because of cutbacks in the Social Security program
e. for men because there are more of them
C
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Suppose the University of Oklahoma increases the price of student football tickets for the 2012 season by 30 percent. If the price elasticity of demand for student tickets is 1.22, the price increase leads to
A) a 36.6 percent decrease in the quantity demanded. B) a 30 percent decrease in the quantity demanded. C) a 1.22 percent decrease in the quantity demanded. D) a 28.78 percent decrease in the quantity demanded. E) no change in the quantity demanded.
For an inferior good, an increase in consumer incomes results in an increase in the quantity demanded of the good
a. True b. False Indicate whether the statement is true or false
A newspaper headline reads: "Fed Raises Discount Rate for Third Time This Year." This headline indicates that the Federal Reserve is most likely trying to:
a. Stimulate the economy b. Increase the money supply c. Reduce the cost of credit d. Reduce inflationary pressures in the economy
If a tax is legally required to be paid by sellers, sellers typically bear the full burden of the tax.
Answer the following statement true (T) or false (F)