In the United States today, households headed by single women are more likely to be poor than:
A. married families.
B. black males.
C. Hispanic males.
D. All of these are true.
D. All of these are true.
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The natural rate hypothesis asserts that in the ________, the money wage rate is fixed and the ________ in the inflation rate brings a(n) ________ in the unemployment rate
A) short-run; decrease; increase B) short-run; increase; increase C) short-run; decrease; decrease D) short-run; increase; decrease E) long-run; increase; decrease
Which of the following must be true if good X is a normal good and income increases?
a. The demand for X will increase, and thus the price and quantity sold and bought will decrease. b. The demand for X will decrease, and thus the price and quantity sold and bought will decrease. c. The demand for X will increase, and thus the price and quantity sold and bought will increase. d. The demand for X will decrease, and thus the price and quantity sold and bought will increase. e. The demand for X will increase, and thus the price and quantity sold and bought will remain the same.
Economists argue that consumers are rational and that they allocate their income among the purchase of goods in such a way that maximizes their total utility. The higher their income, the more goods they buy and the higher is the total utility. If that's the case, how do you explain the fact that many people willingly give up some of their income to help the less fortunate? Do they sacrifice
utility? a. Of course they sacrifice total utility but that doesn't make them irrational. They get satisfaction from helping others. b. They sacrifice only that part of total utility that the income given away would have generated had it been spent on goods used for themselves. Irrational? Perhapsaccording to the economist's definition of rationality, but not according to others. c. Their total utility is not less because the marginal utility they gain by giving a dollar to others is higher than the marginal utility they derive from spending that dollar onthemselves. d. We cannot say if their total utility has changed because we cannot engage in interpersonal comparisons of utility. e. What they lose in total utility, they make up in consumer surplus, and that's rational.
Quantitative easing (QE) refers to:
A. information that a central bank provides to the financial markets regarding its expected future monetary policy path. B. a process similar to open-market sales. C. lending of reserves by the Federal Reserve to commercial banks. D. a process similar to open-market purchases.