Relative poverty
A) has been eliminated in the United States.
B) will always be with us.
C) has never existed in the United States.
D) can be eliminated in the next 20 years.
Answer: B
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Assume that an economy is in equilibrium when there occurs an increase in the supply of capital. The available quantity of labor remains fixed. Once the economy has adjusted to its new equilibrium, which of the following has increased?
A) the real wage B) the rental price of capital C) the share of capital income in national income D) all of the above E) none of the above
The current debate about fiscal and monetary policy tends to focus on
a. which policy is less destabilizing. b. which policy is more effective. c. whether the Fed can control the money supply. d. which policy works more quickly.