If the value of in-kind transfers are taken into account, the number of families living in poverty in the United States would
a. increase by about 1 percent.
b. decrease by about 1 percent.
c. decrease by about 5 percent.
d. decrease by about 10 percent.
d
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Calculate the total change in spending because of an initial $100 increase in aggregate demand, given that the MPC = 0.60.
A. $100 decrease. B. $60 increase. C. $250 increase. D. $100 increase.
The net result of deflation is to:
A. reduce the level of aggregate supply in the economy. B. be neutral and not affect the aggregate demand in the economy. C. increase the level of aggregate demand in the economy. D. reduce the level of aggregate demand in the economy.
Government spending as a percent of national income
A) peaked during the Reagan administration. B) peaked during World War II. C) has been steadily climbing since 1850. D) has been almost constant this century.
If your income increases from $10,000 per year to $14,000 per year and your tax payment increases from $2,000 to $2,840, the marginal tax rate:
A. Is 20 percent B. Is 21 percent C. Is 25 percent D. Cannot be determined from the given data