The vicious cycle of poverty refers to the fact that LDCs are poor because other countries do not want to buy their goods and services

If the inflation rate target is 2%, the current inflation rate is also 2%, and the output gap is zero, then according to the Taylor rule, the nominal federal funds rate should be ________ percent

A) zero B) two C) four D) three E) none of the above

Which of the following is a normative economic statement?

A. The poverty rate hit a new high last year and income distribution also worsened B. Health care accounts for roughly a third of total spending in the economy C. The government needs to revamp the Social Security program to make it sustainable D. Retail sales are expected to continue on their downward trend in the next three quarters