According to figure 1.1, the favorite explanation for continuing poverty in America was "lack of effort" by the poor
Indicate whether the statement is true or false
T
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Suppose the Fed buys government securities from a commercial bank. Why is there a multiplier effect on the quantity of money?
What will be an ideal response?
The dependence on the export of one or two primary products for a majority of the revenue from exports is most severe in countries in
(a) South Asia. (b) East Asia. (c) Sub Saharan Africa. (d) Latin America.
The marginal revenue product of capital is the
a. same as the marginal revenue product of labor if all resources are used b. same as the marginal physical product of capital in a perfectly competitive market c. change in the interest rate when a firm borrows $1 to buy new capital d. change in total revenue generated by an additional $1 of loanable funds e. price of adding one more machine to production
Antitrust laws are enforced by:
A. the Department of Commerce. B. the Federal Trade Commission. C. the Federal Reserve. D. the Department of Labor.