Which of the following contributed most to the large increases in poverty since 1960?
a. increases in air pollution and other externalities
b. federal government budget deficits
c. the increase in the number of elderly individuals
d. rising poverty rates among households headed by females
e. the increase in the number of households headed by females
E
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A small decrease in a production quota will have a large impact on the support price if:
A) demand is completely elastic. B) demand is highly (but not completely) elastic. C) demand is inelastic. D) The demand elasticity does not affect the price outcomes of a quota program.
Special-interest programs are highly attractive to vote-seeking politicians because
What will be an ideal response?
The opportunity cost of holding money is measured by the:
a. interest rate
b. liquidity lost by holding money.
c. money supply curve.
d. inflation rate.
e. cost of cashing in financial assets.
An adverse supply shock will shift short-run aggregate supply
a. right, making prices rise.
b. left, making prices rise.
c. right, making prices fall.
d. left, making prices fall.