Your authors state that the rise in the U.S. poverty rate from 2000 to 2010 was primarily caused by
A) the rise of huge corporations and "big box stores" in the consumer goods sector.
B) the growing number of students straddled with student loan debt.
C) the Great Recession that began in 2008.
D) none of the above reasons.
C
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Consider two countries: Eastland and Westland. Eastland's long-run Phillips curve sits further to the right than does Westland's long-run Phillips curve. Eastland and Westland are identical in all other ways. In particular, they have the same money supply growth rates. In the long run, compared to Westland, which of the following will we observe in Eastland?
a. higher unemployment and higher inflation. b. higher unemployment and the same rate of inflation. c. lower unemployment and higher inflation. d. None of the above is correct.
In Figure 1.4, a shift of the production possibilities curve from PP1 to PP2 could be caused by
A. Implementation of training programs that improve the skills of workers. B. A flu epidemic that makes many workers sick. C. Tougher pollution controls for the producers of televisions and smartphones. D. An increase in the unemployment rate.