Which of the following measures absolute poverty?

A. Median income
B. The lower quintile of income
C. The poverty line
D. The poverty standard


Answer: C

Economics

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Often to secure a monopoly, one must erect barriers to entry to obtain a monopoly. What is this activity called in general and what does it entail specifically?

What will be an ideal response?

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If there is instability in the demand for commodities,

A) a monetary policy of fixed interest rates will perform better than a policy of holding the real money supply fixed. B) a countercyclical money-supply policy will cause large swings in interest rates. C) a fixed money supply policy will perform better than countercyclical changes in money supply. D) a fixed money supply policy will stabilize interest rates.

Economics

The Township survey system set up by the Northwest Ordinance of 1785 established

(a) a 50 square-mile township based on colonial New York. (b) an 84 square-mile township base on colonial Virginia. (c) a 36 square-mile township based on colonial Vermont. (d) an 18 square-mile township based on colonial Rhode Island.

Economics

If the Fed wishes to increase nominal interest rates, it must engage in an open market ________ of bonds that ________ the money supply.

A. sale; does not change B. purchase; increases C. sale; decreases D. sale; increases

Economics