Poverty is defined by the U.S. government as having an income equal to or less than three times an average family's minimum food expenditure as calculated by the U.S. Department of Agriculture.
Answer the following statement true (T) or false (F)
True
See the official definition of poverty in the textbook.
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Suppose that Mel (who is 27 ) is not working, but looked for a job as recently as 2 months ago. Mel would like a job and he is available for work. He is considered
A) unemployed. B) a member of the labor force and unemployed. C) a member of the labor force, but not unemployed. D) a member of the working-age population E) a marginally attached worker.
The table above shows a total product schedule. Suppose that labor costs $20 per worker and fixed costs are $60. The average variable cost of producing 80 units equals ________ per unit
A) $0.75 B) $1.00 C) $1.75 D) $20 E) $0.25
Any increase in autonomous spending will
A) shift the IS curve to the left. B) shift the IS curve to the right. C) cause a movement down along an IS curve. D) cause a movement up along an IS curve.
Economists normally assume people's preferences should be
a. respected. b. adjusted. c. overruled. d. ignored.