The poverty line is the income level
a. earned by a worker employed full-time at the minimum wage.
b. below which a family is officially considered "poor."
c. above which a family is not entitled to government assistance.
d. that is the average for American families.
b
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The argument that a tariff has to be imposed in order to protect any industry just getting started until it gets large enough to be competitive internationally is the
A) start-up industry argument. B) infant industry argument. C) baby industry argument. D) fledgling industry argument.
The presence of the automatic stabilizers means an increase in the budget deficit will be automatically experienced during a recession whereas a budget surplus will be automatically experienced during an economic expansion
a. True b. False Indicate whether the statement is true or false
The tax cut of 2001 turned out to be well-timed because it caused a
A. rightward shift of the aggregate demand curve. B. rightward shift of the aggregate supply curve. C. leftward shift of the aggregate demand curve. D. leftward shift of the aggregate supply curve.
If a country has a fixed exchange rate, it:
A. has a value that is set by the government. B. helps attract foreign investment and gives businesses that depend on overseas trade more confidence to invest. C. allows for more predictability and stability. D. All of these statements are true.