The poverty line is
a. established by the federal government.
b. approximately equivalent to three times the cost of providing an adequate diet.
c. an absolute level of income below which a family is deemed to be in poverty.
d. All of the above are correct.
d
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Relative to life insurance companies, the liabilities of property and casualty insurance companies are
A) longer-term. B) more unpredictable. C) less risky. D) subject to higher taxes.
If a person's labor supply curve is positively sloped, the income effect outweighs the substitution effect
a. True b. False
The revolutionary concept put forward by John Maynard Keynes was to stimulate aggregate demand through expansionary fiscal policy
Indicate whether the statement is true or false
In the new classical model, the aggregate supply schedule depends on
a. the expected level of the money stock. b. the expected price level. c. the expected values of fiscal policy variables and other possible determinants of aggregate demand. d. Both a and c e. All of the above