What is the United States government's formal definition of the poverty line?
A) It is a level of annual income equal to total income in society divided by the population, adjusted for a family of four.
B) It is the annual income level below which a household is exempt from taxes.
C) It is a level of annual income equal to the amount of money necessary to purchase the minimal quantity of food required for adequate nutrition.
D) It is a level of annual income equal to three times the amount of money necessary to purchase the minimal quantity of food required for adequate nutrition.
D
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Between 1960 and 2011,
A) the male labor force participation rate decreased rapidly, the female labor force participation rate decreased slowly, and the two rates are now equal. B) the male labor force participation rate decreased and the female labor force participation rate increased. C) both the male and female labor force participation rates increased. D) both the male and female labor force participation rates decreased slowly. E) the male labor force participation rate did not change and the female labor force participation rate increased.
If total fixed cost increases, then the average total cost curve ________ and the marginal cost curve ________
A) does not shift; shifts upward B) shifts upward; shifts upward C) does not shift; does not shift D) shifts upward; does not shift
The economic problem is the study of
a) consumption decisions. b) production technology. c) how society decides what, how and for whom to produce. d) the best way to run society.
The different shapes of the aggregate supply curve:
A. Determine the level of reserves held by the banking system. B. Result in the Fed's need for total control of the money supply. C. Determine the impact of monetary policy on price level and output. D. Explain why the Fed must respond to market instability.