An absolute poverty line is usually set based on:
A. the cost of certain essential goods.
B. a certain percentage below the average income in a society.
C. the lowest quartile of income earners in a society.
D. the lowest 1 percent of all income earners in a society.
A. the cost of certain essential goods.
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As the level of real GDP increases, the short-run aggregate supply curve:
a. shifts to the right. b. shifts to the left. c. becomes flatter. d. becomes steeper. e. becomes horizontal to the real GDP axis.
As long as the debt is internally held, there are no problems associated with the government going into debt
Indicate whether the statement is true or false
An effective minimum wage law will increase the quantity of labor demanded
a. True b. False Indicate whether the statement is true or false
It is possible to analyze education decisions in a manner similar to the decision to acquire more
A. capital. B. leisure. C. work. D. goods and services.