According to the official U.S. threshold, 35 percent of Americans live in poverty.
Answer the following statement true (T) or false (F)
False
The Census Bureau counted over 40 million Americans as 'poor' in 2016 according to the official U.S. thresholds (as adjusted for family size). This was one out of eight U.S. households, for a poverty rate of roughly 13 percent.
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When the benefits of producing a good or service spill over to other people, rather than just the buyer, the spillover is referred to as
A) an external benefit. B) an external cost. C) a marginal cost. D) an equilibrium social output. E) a Coasian good.
The expected real interest rate approximately equals
A) the nominal interest rate minus the tax rate. B) the nominal interest rate minus the expected rate of inflation. C) the nominal interest rate plus the expected rate of inflation. D) the yield to maturity on a coupon bond held to maturity.
OPEC is an example of a producer's cartel that is successful because of its ability to institute tariffs on oil exports
a. true b. false
Industries in which firms ________ are likely to contract in the long-run.
A. suffer losses B. break even C. have positive profits D. have no competition