Which of the following statements is correct?
A. About 25 percent of the U.S. population earns an income below the poverty line.
B. About 50 percent of blacks earn an income below the poverty line.
C. The area of the United States with the highest percentage of the population below the poverty line is the northeast.
D. The area of the United States with the highest percentage of the population below the poverty line is the south.
Answer: D
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In the above figure, if the interest rate is 3 percent per year, the quantity of money demanded is
A) greater than the quantity of money supplied, and the demand for money curve will shift. B) greater than the quantity of money supplied, and the supply of money curve will shift. C) less than the quantity of money supplied, and the demand for money curve will shift. D) greater than the quantity of money supplied, and the interest rate will change. E) less than the quantity of money supplied, and the interest rate will change.
What was the result of the Federal Reserve tightening credit and Congress adopting the Smoot-Hawley Tariff?