The poverty line in the United States
A. last changed in 1980.
B. never changes.
C. changes with the level of inflation and family size.
D. changes with the minimum wage.
C. changes with the level of inflation and family size.
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How do the price, output, consumer surplus, economic profit, and total surplus for a single-price monopoly compare to that of a competitive industry?
What will be an ideal response?
A linear total cost curve which passes through the origin implies that
a. average cost is constant and marginal cost is variable. b. average cost is variable and marginal cost is constant. c. average and marginal costs are constant and equal. d. need more information to answer question.
The modern view of the Phillips curve suggests that
a. when inflation is less than anticipated, unemployment will rise above the natural rate. b. monetary policy will be unable to affect inflation. c. when people accurately anticipate inflation, expansionary monetary policy will reduce unemployment. d. when inflation exceeds what was anticipated, the natural rate of unemployment will rise.
A country's nominal exchange rate, e, is defined as the number of units of:
A. the foreign currency that one unit of the domestic currency will buy. B. foreign goods relative to the number of units of domestic goods. C. the domestic currency that one unit of the foreign currency will buy. D. domestic goods relative to the number of units of foreign goods.