Which president had to cope with both rising deficits and a rising rate of inflation?
A. John Kennedy
B. Dwight Eisenhower
C. Jimmy Carter
D. Ronald Reagan
C. Jimmy Carter
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If marginal cost exceeds average variable cost but is less than average total cost, then as output increases average total cost ________ and average variable cost ________
A) increases; decreases B) decreases; decreases C) increases; increases D) decreases; increases
One difference between stocks and bonds is that
A) stocks do not involve a promise to repay a purchaser of the stock, while bonds represent a promise to repay the purchase price of the bond. B) stocks represent ownership in companies, while bonds represent ownership in banks. C) stocks are financial securities, while bonds are labor market securities. D) stocks are usually issued in electronic form, while bonds are usually issued in paper form.
The official dividing line between the poor and nonpoor is called the
a. life threshold. b. life edge. c. poverty line. d. beginning line.
Which of the following statements is not correct?
a. The poverty line is an absolute level of income set by the federal government below which a family is considered to be in poverty. b. The poverty line is approximately equal to three times the cost of providing an adequate diet. c. The poverty line is adjusted annually to reflect changes in price levels. d. The poverty line is adjusted semiannually to reflect changes in fuel prices.