In 2017, the poverty line for a family of four was about $42,000.
Answer the following statement true (T) or false (F)
False
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Equilibrium in a market is
A. a situation in which there are no inherent forces that produce change. B. the natural state of affairs in the market. C. the actual price and quantity that will exist in a market. D. the best price and quantity that can exist in a market. E. All of these responses are correct.
According to the textbook, government supplies police protection because
A) it is difficult to supply police protection exclusively to people who pay for it. B) police protection is every citizen's right. C) police use force, violence, and coercion. D) the supply of police protection is in the public interest. E) the value of police protection is greater than its marginal cost.
In Irving Fisher's quantity theory of money, velocity was determined by
A) interest rates. B) real GDP. C) the institutions in an economy that affect individuals' transactions. D) the price level.
According to purchasing power parity, the nominal exchange rate between the U.S. and another country should equal the price level of foreign goods divided by the price level of U.S. goods
a. True b. False Indicate whether the statement is true or false