When poverty is defined by an absolute real income level, what will happen to the poverty rate if income per capita in a country continues to grow?
A) The poverty rate will increase forever.
B) The poverty rate will eventually be zero.
C) The poverty rate will increase and then decrease.
D) The poverty rate will never change.
B
You might also like to view...
If Pepsi goes on sale and decreases its price by 10 percent, and as a result, the quantity demanded of Coca Cola decreases by 5 percent, then Pepsi and Coke are ________ goods
A) inferior B) normal C) substitute D) complementary E) unrelated
Which of the following could be evidence of a market failure?
A) There are only a handful of firms competing against each other in an industry. B) The market price of a product is above the average cost of production. C) Resources in an economy are not fully utilized. D) Market prices do not reflect true production costs.
A . Why is the Fed interested in controlling both the interest rate and the size of the money supply? b. In the grand scheme of things, does it really matter which target option the Fed chooses? That is, is there a preferred target option?
The law of diminishing marginal utility does not apply to interpersonal comparisons of utility
Indicate whether the statement is true or false