Compared to 1960, in 2008 the proportion of retirees living in poverty has fallen from 35 percent to about _________ percent.
A. 5 percent
B. 10 percent
C. 15 percent
D. 20 percent
B. 10 percent
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When the federal government uses taxation and purchasing actions to stimulate the economy it is conducting
A. monetary policy. B. fiscal policy. C. employment policy. D. incomes policy.
Consider the market for bread. If the price of wheat rises, then the
A) demand curve for bread shifts leftward. B) supply curve of bread shifts leftward. C) price of bread falls. D) equilibrium quantity of bread increases. E) demand curve for bread shifts rightward.
Distinguish the short run from the long run. Generally, what causes costs of production to vary with output in the short run? What generally causes costs of production to vary in the long run?
If the area between the diagonal line of absolute equality and the Lorenz curve is greater for the United States than for Japan, we can conclude that the
A. Distribution of income in Japan is as equal as in the United States. B. Relative distributions of income in the two countries are the same. C. Distribution of income in Japan is closer to being equal than in the United States. D. Distribution of income in Japan is less equal than in the United States.