The proportion of minimum-wage earners who are in families with incomes below the poverty line is
a. less than one-third.
b. between one-third and one-half.
c. between one-half and two-thirds.
d. greater than two-thirds.
a
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In a period of hyperinflation, the velocity of circulation increases because
A) the real interest rate rises. B) households and firms spend money as soon as they receive payment. C) the nominal interest rate decreases. D) money is valuable everyone wants it. E) potential GDP increases.
In a labor market dominated by a union, the supply of labor to a firm is depicted as a horizontal line
a. True b. False
The intent of parity pricing is to
a. protect small farms from predatory larger farms b. maintain farmers' purchasing power c. provide incentives for farmers to produce d. generate surplus food to feed the needy e. enhance the effects of technology in agriculture
Maximum Feasible Hourly Production Rates (in Tons) of EitherPizzas or Donuts Using All Available ResourcesProductCountry AlphaCountry BetaPizzas102Donuts1012Use the above table. Assuming constant opportunity costs, the opportunity cost of producing donuts in country Alpha is ________, and the opportunity cost of producing donuts in country Beta is ________.
A. 0.2 pizza; 1.67 donuts B. 1 pizza; 6 donuts C. 1 pizza; 0.17 donut D. 10 donuts; 12 pizzas