Measuring poverty using an absolute income scale like the poverty line can be misleading because
a. income measures do not include the value of in-kind transfers.
b. money is more highly valued by the rich than by the poor.
c. the poor are not likely to participate in the labor market.
d. income measures are not adjusted for the effects of labor-market discrimination.
a
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Refer to the scenario above. If Alice values fairness, ________
A) she will not accept any offer made by Robert B) Robert should make the lowest possible offer to Alice C) she will accept the offer when Robert offers $250 D) Robert should not play the game
According to the text, much of the increase in productivity that has occurred more recently in the fast food industry was the result of improvements in capital and technology
Indicate whether the statement is true or false
In a product market, which of the following might be purchased?
a. land for a housing development b. the labor of households c. umbrellas and raincoats d. manufacturing equipment
Suppose an economy's trend growth rate is 3 percent and current output is $10 trillion. If the economy enters a recession where output declines by 5 percent in one year, by how much does output have to rise to return to its trend? Assume it takes two years for the economy to return to its trend.
A. $1.7 trillion B. $1.4 trillion C. $0.5 trillion D. $0.6 trillion