The definition of poverty in the United States is
A. a level of income below the minimally acceptable annual food budget of a family of a given size times four.
B. a level of income below the minimally acceptable annual food budget of a family of a given size times three.
C. unwholesome living conditions.
D. a level of income below the median income for all families.
B. a level of income below the minimally acceptable annual food budget of a family of a given size times three.
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Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. What is the cost to Firm C of eliminating 2 tons of pollution?
A. $1,300 B. $300 C. $1,500 D. $2,200 E. $3,500
The set of assets that a holder of wealth chooses to own is called
A) an asset assortment. B) a wealth strategy. C) a portfolio. D) an investment envelope.
Economists
a. believe that tastes are the major influence on consumers' income expectations b. have observed that tastes vary with changes in the number of consumers c. recognize that tastes have an important impact on demand d. can say a great deal about the origin of tastes e. suspect that tastes can cause a movement along the demand curve
In an eight-hour day, Andy can produce either 24 loaves of bread or 8 pounds of butter. In an eight-hour day, John can produce either 8 loaves of bread or 8 pounds of butter. The opportunity cost of producing 1 pound of butter is
A) 1/3 hour for Andy and 1 hour for John. B) 1 hour for Andy and 1 hour for John. C) 3 loaves of bread for Andy and 1 loaf of bread for John. D) 1/3 loaves of bread for Andy and 1 loaf of bread for John. E) none of the above