What percent of the families classified as poor in 2010 were headed by an elderly (age 65 and over) person?
a. approximately two-thirds
b. approximately 9 percent
c. approximately 32 percent
d. approximately 50 percent
B
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The Commerce Bank of Beverly Hills has total deposits of $1,000,000 and total reserves of $220,000. The desired reserve ratio is 10 percent. The bank's excess reserves are
A) $22,000. B) $120,000. C) $100,000. D) $80,000. E) $1,000,000.
The deadweight loss from a monopoly loss measures the inefficiency created by monopoly
Indicate whether the statement is true or false
Economic profits are found by total revenues minus
A) explicit costs. B) explicit and implicit costs. C) implicit costs. D) all opportunity costs.
Fiona consumes pizzas and soda with her weekly income of $50 . Suppose pizzas cost $10 and sodas cost $2 . If the price of pizzas rises to $12, then her opportunity cost of consuming a pizza will increase to: a. 5 sodas
b. 6 sodas. c. 10 sodas. d. 12 sodas.