Which statement is true?
A. Blacks have a lower poverty rate than Hispanics.
B. Blacks have a poverty rate of about three times that of whites.
C. Members of white families headed by females have a higher poverty rate than all black families.
D. None of these statements are true.
B. Blacks have a poverty rate of about three times that of whites.
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In the above figure, if D2 is the original demand curve and the population falls, which price and quantity might result?
A) point a, with price P2 and quantity Q2 B) point b, with price P1 and quantity Q1 C) point c, with price P3 and quantity Q3 D) point d, with price P1 and quantity Q3
When operating on its PPF, a country can produce 2 tons of butter and 200 cars OR 3 tons of butter and 150 cars. The opportunity cost of 1 ton of butter is ________ cars per ton of butter
A) 300 B) 200 C) 50 D) 0.75
When inflation is very low, how do workers and firms adjust their expectations of inflation?
A) They tend to ignore inflation. B) They are more aggressive in asking for wage and price increases. C) They rapidly adjust their expectations of inflation downward. D) They rapidly adjust their expectations of inflation upward.
Poverty is defined in two ways: the absolute concept of poverty and the relative concept of poverty.
Answer the following statement true (T) or false (F)