The poverty rate is defined as the percentage of the
A) population that is exempt from paying federal income taxes.
B) population who qualify to receive welfare payments and food stamps.
C) labor force that is poor according to the federal government's definition of poverty.
D) population that is poor according to the federal government's definition of poverty.
D
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According to the policy irrelevance proposition, real Gross Domestic Product (GDP) is determined by
A) the economy's long-run aggregate supply curve. B) a combination of fiscal policy and monetary policy. C) the rate of inflation only. D) the economy's aggregate demand curve.
If individuals save less because inflation lowers returns on savings, this should ________ real interest rates and ________ investment expenditures
A) raise; increase B) raise; reduce C) lower; increase D) lower; reduce