The measured poverty rate may not reflect the true extent of economic deprivation because it does not include some forms of government assistance

Figure 4.3 illustrates the demand for tacos. Assume tacos are an inferior good. An increase in income would bring about a movement from

A) point a to point b. B) point c to point b. C) D2 to D1. D) D0 to D1.

In the long run, one-time increases or decreases in the nominal money supply affect

A) real output, but not the price level. B) the price level, but not real output. C) both real output and the price level. D) neither real output nor the price level.