During 1959 through 2010, the percent of poor families headed by an elderly person
a. rose.
b. steadily declined.
c. remained virtually unchanged.
d. steadily increased until 1980 when it began to decline.
B
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Deflation is defined as a situation in which
A) the rate of inflation is below 2 percent. B) the average of all prices of goods and services in an economy is falling. C) the value of the dollar is rising relative to other currencies. D) the Gross Domestic Product's growth rate is less for a given quarter than it was for the prior quarter.
If the value of the domestic currency depreciates:
a. Aggregate demand rises and aggregate supply falls. b. Aggregate demand rises, but aggregate supply does not change. c. Aggregate demand falls and aggregate supply rises. d. Aggregate demand rises and aggregate supply rises. e. Aggregate demand falls and aggregate supply falls.