The poverty line equals the:
A. average income of the bottom one-tenth of all income recipients.
B. cost of an economical and nutritional food plan for a family multiplied by six.
C. cost of an economical and nutritional food plan for a family multiplied by three.
D. average income of a family headed by a worker who has been unemployed for six months or more.
Answer: C
You might also like to view...
Which of the following would be expected if the tariff on foreign-produced automobiles was increased? a. The domestic price of automobiles would fall
b. The supply of foreign automobiles to the domestic market would be reduced, causing auto prices to rise. c. The number of unemployed workers in the domestic automobile industry would rise. d. The demand for foreign-produced automobiles would increase, causing the price of automobiles to increase in other nations.
Suppose a new pollution tax of $0.01 per kilowatt-hour of electricity is imposed on coal-fired power producers by the federal government. Which of the following correctly describes how this tax will affect the market for electricity served by these power plants?
a. Demand for electricity will increase. b. Demand for electricity will decrease. c. The supply of electricity will decrease. d. The supply of electricity will increase.
Which of the following does not describe a characteristic of short-term economic fluctuations?
A. The unemployment rate rises during recessions. B. Expansions and recessions are felt throughout the economy. C. Durable-goods industries are less sensitive to short-term fluctuations than service and non-durable industries. D. Expansions and recessions are irregular in length and severity.
The money aggregate M1 includes each of the following, except:
A. demand deposits at commercial banks. B. currency in the hands of the public. C. currency in the vaults of commercial banks. D. travelers checks that have been issued.