Of the 39 million Americans living in poverty, _______________ are children.
A. one-quarter
B. 10 percent
C. less than half
D. more than half
D. more than half
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Refer to Figure 7-1. At the efficient equilibrium
A) economic surplus is maximized. B) economic surplus is zero. C) economic surplus is negative. D) economic surplus is minimized.
A permanent reduction in planned real investment spending leads to
A) a more than proportional increase in real GDP. B) a more than proportional decrease in real GDP. C) a less than proportional decrease in real GDP. D) a proportional decrease in real GDP.
If the price of a cola increased by 12% and consumers responded by purchasing 20% less cola, the absolute value of price elasticity of demand for cola would be
A) 0.20. B) 0.80. C) 1.67. D) 2.40.
As a result of an expansionary monetary policy ________
a. both aggregate expenditure and aggregate demand increase b. both aggregate expenditure and aggregate demand decrease. c. aggregate expenditure increases and aggregate demand decreases. d. aggregate expenditure decreases and aggregate demand increases. e. aggregate expenditure remains unchanged; aggregate demand increases.