According to official statistics in the United States, a person is classified as poor
A. if the person's money income is below the poverty income threshold.
B. only if the person's money income is below the poverty income threshold AND the person is not working.
C. only if the person's money income is below the poverty income threshold AND the person is homeless.
D. if the person's money income and the value of non-cash transfers is below the poverty income threshold.
A. if the person's money income is below the poverty income threshold.
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Which of the following is TRUE in perfect competition at long-run equilibrium?
A) P = ATC = MC = MR B) ATC is minimized. C) Economic profit is $0. D) all of the above
Refer to Scenario 17.1. The highest level of y* that can be set and still have the high-productivity people choose to meet it is
A) 16. B) 13 1/3. C) 13. D) 8. E) 0.
Using Figure 3 below, suppose that the economy was at Y2. This level of GDP would be considered:
A. inflationary.
B. recessionary.
C. a long run level of output.
D. unsustainable over time.
A decrease in the tax rate is more likely to increase the standard of living if the income effect of a change in the interest rate is
a. small and an increase in private saving tends to have a small impact on the capital stock. b. small and an increase in private saving tends to have a large impact on the capital stock. c. large and an increase in private saving tends to have a small impact on the capital stock. d. large and an increase in private saving tends to have a large impact on the capital stock.