What is the poverty line in the United States based on?
a. The average purchasing power of a family of three
b. The average standard of living in the United States
c. Three times the cost of a nutritionally adequate diet
d. The cost of housing and food in each state
c. Three times the cost of a nutritionally adequate diet
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All of the following are roles of a exchange EXCEPT
A) instituting margin requirements on futures contracts. B) marking to market at the end of each day. C) eliminate the need for buyers and sellers of futures contracts to be concerned about the creditworthiness of each other. D) reducing the default risk involving forward contracts.
In the study of labor supply, "leisure" refers to
a. time spent sleeping. b. time spent doing absolutely nothing (except breathing). c. time spent in one's place of residence. d. time spent that is not spent in market work.
In an unregulated market for healthcare, there is
A) a deadweight loss from over-providing healthcare. B) a deadweight loss from under-providing healthcare. C) no deadweight loss. D) Any of the above could be correcting depending on how the marginal cost paid by producers compares to the marginal social cost.
An excess demand for money exists if the interest rate is below the equilibrium rate
a. True b. False