The gains made against poverty by President Lyndon Johnson's "War on Poverty" were largely reversed by:
a. welfare cuts
b. an elimination of many jobs to overseas manufacturing facilities
c. slower economic growth
d. all of the above.
e. a and c only
a
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If firms monopolistically competitive firms are making an economic profit, as new firms enter the market, each of the existing firms' demand curve shifts ________, the marginal curve shifts ________, and the profit-maximizing quantity ________
A) leftward; leftward; decreases B) rightward; leftward; increases C) leftward; rightward; decreases D) leftward; leftward; increases
If the price of a product being sold in a perfectly competitive market increases,
A) the MRP curve shifts to the right. B) the MPP curve shifts to the right. C) the MFC curve shifts to the right. D) the MFC curve shifts to the left.