In the United States, families headed by single women have higher poverty rates than families headed by single men or by married couples.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 2Which of the following correctly describes factors that contributed to the change in the federal budget deficit between 1990 and 1998?
a. Federal taxes were cut by President George H.W. Bush and Congress in 1990, which helped in his reelection campaign in 1992 and contributed to a continually rising budget deficit during the 1990s.
b. Federal taxes were cut again by President Bill Clinton in 1993, which further contributed to a continually rising budget deficit during the 1990s.
c. Accelerated growth in federal outlays triggered the rapid expansion of the federal workforce between 1990 and 1998, which further contributed to a continually rising budget deficit during the 1990s.
d. Taxes were raised, spending was cut, productivity rose, consumer spending increased, the stock market was the strongest in history, and the country experienced a short-lived budget surplus.
e. Defense and international programs were identified as the only two areas of potential spending cuts.
QUESTION 3Since the end of World War II, the U.S. price level has:
a. increased tenfold.
b. increased by an average of 10 percent each year.
c. increased and decreased with equal regularity, leaving the price level almost constant.
d. increased by 50 percent.
e. doubled.
QUESTION 4The poverty rate for African Americans has remained approximately equal in the U.S. since the late 1950s.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 5The federal budget experienced surpluses from _____.
a. 1998 to 2001
b. 2002 to 2006
c. 1970 to 1973
d. 1991 to 1994
e. 1985 to 1988
QUESTION 6Which of the following decades was characterized by the highest inflation rate in the U.S.?
a. 1920s
b. 1930s
c. 1950s
d. 1970s
e. 1960s
QUESTION 7The geographic region in the United States with the highest poverty rate is the South.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 8The Budget Enforcement Act of 1990:
a. was a package of spending cuts and tax increases designed to reduce budget deficit.
b. succeeded in balancing the budget cyclically.
c. succeeded in balancing the budget within two years.
d. identified defense and international programs as the only two areas of potential spending cuts.
e. gave the President the authority to make unilateral spending cuts to balance the budget.
QUESTION 9Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period.
b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels.
c. The price level remained constant during this period.
d. Major wars resulted in high inflation rates, after which the inflation rate tapered off.
e. Major wars resulted in high inflation rates that were usually followed by deflation.
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