Which statement about public assistance is false?
A. It is aimed solely at the poor.
B. It has failed completely.
C. It has not ended poverty.
D. It has fostered a permanent underclass.
B. It has failed completely.
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A free market is a market:
A) that has price controls imposed by a ruling authority. B) where almost all exchanges take place involuntarily. C) where determination of equilibrium quantity is free from the forces of demand and supply. D) that operates with little or no government control.
Under fixed exchange rate, in general
A) the domestic and foreign interest rates are equal, R = R . B) R = R + (Ee - E)/E. C) the foreign and domestic interest rates are unequal. D) the expected rate of domestic currency depreciation is high. E) the expected rate of currency depreciation is one.
In most cases, higher interest rates cause the velocity of M1 to
A) turn negative. B) move erratically. C) increase. D) decline.
Subsidies paid to the health care industry for Medicare patients are paid by
A) Congress. B) the Teamsters union. C) current taxes. D) the Federal Reserve.