If the U.S. government determines that the cost of feeding an urban family of four is $7,500 per year, then the official poverty line for a family of that type is
a. $7,500.
b. $15,000.
c. $22,500.
d. $30,000.
c
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Refer to Figure 12-11. Suppose the prevailing price is $20 and the firm is currently producing 1,350 units. In the long-run equilibrium, the firm represented in the diagram
A) will continue to produce the same quantity. B) will reduce its output to 750 units. C) will reduce its output to 1,100 units. D) will cease to exist.
An increase in U.S. Treasury deposits at the Fed reduces both ________ and the ________
A) reserves; monetary base B) Fed liabilities; money multiplier C) Fed assets; monetary base D) Fed assets; money multiplier
In the short run following a depreciation of the dollar, the United States may move downward along the J-curve since it is likely that the United States
A) spends more dollars on imports. B) spends fewer dollars on imports. C) sells an increased dollar amount of exports. D) sells a reduced dollar amount of exports.
A Lorenz curve measures the ________ on the vertical axis
A) cumulative percentage of money income B) cumulative percentage of family wealth C) cumulative percentage of families D) demand of families on welfare