Macroeconomics Might Study Which of the Following

question 151

Multiple Choice

Macroeconomics might study which of the following?

• A) the causes of domestic unemployment
• B) decision making undertaken by firms
• C) decision making undertaken by households
• D) determinants of the prices of rare goods (e.g., diamonds)

Understand the multidimensional causes of poverty, including education, family background, and personal choices.

Analyze the effectiveness of the War on Poverty and other government initiatives aimed at reducing poverty.

Understand means-tested income transfers and their implications for poverty reduction strategies.

Understand concepts of marginal tax rates and their implications on earned income.

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Definitions:

Block Grants

Financial aid from a central government to local or state governments for general governmental functions with minimal restrictions on usage.

Mandates

Authorizations granted by voters to elected officials to act on public policies or issues.

Expressed Powers

Specific powers granted to the government or its officials by a constitution or similar legal document.

Inherent Powers

Powers not explicitly specified in the Constitution that are nonetheless necessary for the government to function and fulfill its duties.