Wage discrimination means workers with equal productivity are paid unequal wages, or workers with unequal productivity are paid equal wages.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 2Which of the following steps does not belong to the sequence of events reflecting the finance of a large government budget deficit?
a. The U.S. Treasury sells securities.
b. The sale of securities drives up interest rates.
c. Attracted by the high interest rates, foreigners purchase dollars in order to invest in the U.S.
d. Greater demand for the dollar increases its value relative to other currencies.
e. The rising value of the dollar leads to increased U.S. exports and reduced U.S. imports.
QUESTION 3If the CPI is 200, then the price level has _____ since the base year.
a. doubled
b. quadrupled
c. tripled
d. increased five times
e. increased six times
QUESTION 4Since 1959 the fraction of persons below the poverty line has fallen.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 5If the federal government budget deficit increases, then interest rates will _____, the U.S. dollar will _____, and the foreign trade deficit will _____.
a. increase; depreciate; decrease
b. increase; appreciate; increase
c. increase; depreciate; increase
d. decrease; appreciate; increase
e. decrease; depreciate; decrease
QUESTION 6If the CPI in the United States was 150 in 2003 and 160 in 2004, the inflation rate over the year is _____.
a. 10 percent
b. 20 percent
c. 7 percent
d. 30 percent
e. 50 percent
QUESTION 7When determining whether a family's income is below the official poverty rate, non-cash benefits from the government, such as food stamps, housing and medical benefits, are also included.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 8If actions by the President and Congress reduce the federal government budget deficit, then interest rates will _____, the U.S. dollar will _____, and the foreign trade deficit will _____.
a. increase; appreciate; increase
b. increase; depreciate; increase
c. decrease; appreciate; decrease
d. decrease; depreciate; increase
e. decrease; depreciate; decrease
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