Which is the most accurate statement?
A. Workfare has been a great success in moving millions of people off the welfare rolls into minimum wage jobs.
B. Most people on welfare are now limited to receiving benefits for no more than 5 years during their entire adult lives.
C. The Personal Responsibility and Work Opportunity Act of 1996 provides jobs or training for every adult who desires to leave welfare.
D. Until the passage of welfare legislation in 1996, the welfare rolls had been rising for the previous 6 years.
B. Most people on welfare are now limited to receiving benefits for no more than 5 years during their entire adult lives.
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The tendency for inflation to change relatively slowly from year to year in industrial countries is called:
A. the inflation gap B. potential inflation. C. inflation inertia. D. inflation expectations.
In Figure 9.8, if full-employment income is produced at $400 billion, we can expect inventories to
A. Rise as a result of undesired inventory investment. B. Fall as a result of undesired inventory investment. C. Rise as a result of undesired saving. D. Fall as a result of undesired saving.
The economic term for a firm that is the sole buyer in a market is:
A. monopsonist. B. monopolist. C. bilateral competitor. D. bilateral monopolist.
Restricting demand will lower inflation but
A. aggravate the unemployment problem. B. reduce the unemployment rate. C. have no impact on the unemployment rate. D. None of the above is correct.