The official poverty rate in the United States includes
A) less than 5 percent of the population.
B) between 10 and 15 percent of the population.
C) between 20 to 25 percent of the population.
D) over 35 percent of the population.
Answer: B
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Suppose that a borrower has a near-perfect credit history before the bank loans him some money. Shortly after the loan has been made, he loses his job and spends money recklessly. This describes the problem known as
A) moral hazard. B) adverse selection. C) risk aversion. D) asymmetric information.
Assume the following: M = $500; V = 10; and Q = 500. From the equation of exchange, the value of P is
a. $20. b. $10. c. $15. d. $5.
Based on past experience, if a country is experiencing hyperinflation, then which of the following would be a reasonable guess?
a. The country has high money supply growth. b. Inflation is acting like a tax on everyone who holds money. c. The government is printing money to finance its expenditures. d. All of the above are correct.
Which of the following is often referred to as the basic postulate of economics?
What will be an ideal response?