In 2014, what percent of the population lived under the official poverty line in the United States?
A. 11.3 percent, down from a near all-time high of 14.8 percent in 2000.
B. 14.8 percent, higher than a near all-time low of 3.11 percent in 2000.
C. 14.8 percent, higher than a near all-time low of 11.3 percent in 2000.
D. 11.3 percent, down from a near all-time high of 25 percent in 2000.
C. 14.8 percent, higher than a near all-time low of 11.3 percent in 2000.
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Consider the perfectly competitive firm in the above figure. At the profit maximizing level of output, the firm is
A) incurring an economic loss equal to $119.00. B) incurring an economic loss equal to $123.50. C) incurring an economic loss equal to $187.00. D) making zero economic profit.
The real exchange rate measures the
a. price of domestic currency relative to foreign currency. b. price of domestic goods relative to the price of foreign goods. c. rate of domestic and foreign interest. d. None of the above is correct.
Which of the following is most likely to be allowed under World Trade Organization (WTO) rules?
A. Japan bans the importation of American rice because it is thought that American rice may not be as nutritious as Japanese rice. B. Great Britain outlaws non-British cars in an effort to reduce emissions in England, Scotland, and Wales. C. The United States decides to ban the consumption and production of cheese made from unpasteurized milk to guarantee that the food people eat is safe. D. The United States decides to ban the importation of foreign-made cigarettes, without putting any restriction on the sale of local cigarettes, to reduce lung cancer in the United States.
Owners of partnerships
A. must pay the corporate profits tax as well as report their firms' income directly on their individual income tax returns. B. must pay the corporate profits tax. C. are not subject to paying any taxes on their firms' income. D. report their firms' income directly on their individual income tax returns.