Answer the following statements true (T) or false (F)
1) After the implementation of TANF, the U.S. welfare rolls fell by more than one-half between
1996 and 2007.
2) The U.S. poverty rate for the elderly (65 and over) is higher than for the general population.
3) The U.S. poverty rate was considerably lower in 2011 than in 1960.
4) Labor market discrimination increases the size of the nation's GDP by promoting specialization
on the basis of race.
1) T
2) F
3) T
4) F
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Explain why the distinction between debt and equity finance is useful in analyzing the response of developing countries to unforeseen events such as recession or terms of trade change?
What will be an ideal response?
When economists say that people act as rational decision makers, that means
a. they gather all relevant information before making their purchases b. once a pattern of behavior has been established, people tend to become set in their ways c. people respond in predictable ways to changes in costs and benefits d. people rarely make errors when they are permitted to make transactions e. once made, decisions are never reversed
A U.S. grocery chain purchases olive oil from Tunisia and sells it to U.S. consumers. In which of the following is this transaction included?
a. U.S. consumption and U.S. imports b. U.S. consumption but not U.S. imports c. U.S. imports but not U.S. consumption d. neither U.S. consumption nor U.S. imports
A hedge is
A) a financial strategy that reduces the change of suffering losses arising from foreign exchange risk. B) an exchange rate arrangement in which a country pegs the value of its currency to the exchange value. C) the possibility that changes in the value of a nation's currency will result in variations in the market value of assets. D) active management of a floating exchange rate on the part of a country's government.