Which of the following families is statistically the most likely to live below the poverty threshold?
(A) A two-parent family of Hispanic origin living in the inner city.
(B) A two-parent white family living in a rural area.
(C) A black family headed by a single mother living in the inner city.
(D) A black family headed by a single mother living in the suburbs.
Ans: (C) A black family headed by a single mother living in the inner city.
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Which of the following statements about a monopolist is TRUE?
A) Monopolies tend to misallocate resources. B) All monopolies are unlawful in the United States. C) Monopolies tend to allocate resources in a socially optimal manner. D) Monopolies will always make a profit in the long run.
When Mexico suffered from capital flight in 1994, U.S. demand for loanable funds
a. and U.S. net capital outflow rose. b. and U.S. net capital outflow fell. c. fell and U.S. net capital outflow rose. d. rose and U.S. net capital outflow fell.
Suppose that production for good X is characterized by the following production function, Q = K0.5L0.5, where K is the fixed input in the short run. If the per-unit rental rate of capital, r, is $25 and the per-unit wage, w, is $15, then the fixed cost of using 81 units of capital and 9 units of labor is:
A. $2,160. B. $135. C. $2,025. D. There is insufficient information to determine the fixed costs.
The purchase of the assets of one steelmaker by another steelmaker might be a violation of the:
A. Clayton Act. B. Federal Trade Commission Act. C. Celler-Kefauver Act. D. Robinson-Patman Act.