In 2017 inflation adjusted U.S. poverty threshold was
A. An annual income of less than $10,000 for a family of two.
B. The cost of food and shelter but not other necessities for an individual.
C. An annual income of less than $25,000 for a family of four.
D. The dollar measure of output produced by an individual.
Answer: C
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All of the following would be considered explicit costs of operating a business except
A) the rental value of equipment the company owns and uses for its own production. B) advertising expenses. C) utility expenses. D) the cost of raw materials used in production.
If the expected profitability of a business activity increased we might expect investment spending to:
A. increase. B. decrease. C. remain constant. D. there is not enough information to determine what would happen.
Having a chronic trade deficit is a problem, but for countries that have chronic trade surpluses, the consequences are just as problematic
Indicate whether the statement is true or false
The number of years it takes for GDP to double is found by
A. Multiplying 72 by per capita GDP. B. Dividing the growth rate by 72. C. Dividing 72 by the growth rate. D. Multiplying 72 by the growth rate.