According to the World Bank, "extreme" poverty is defined as an income per person of less than
A. $1.90 per day.
B. $5,000 per year.
C. $2.50 per day.
D. $29,000 per year.
Answer: A
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Short-run total cost is defined as
A. total fixed cost plus total variable cost. B. total capital cost only. C. price of labor per unit multiplied by the number of labor units. D. the sum of marginal cost and total variable cost.
Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18 The market is initially in equilibrium at Point B. If demand shifts from D2 to D1, the equilibrium price will change from ________ and the equilibrium quantity will change from ________.
A. $3.00 to $4.00; 350 to 250 B. $3.00 to $4.00; 250 to 350 C. $4.00 to $3.00; 350 to 250 D. $4.00 to $3.00; 250 to 350
If the consumer's budget constraint is given by 10F + 5S = 100 where F is food and S is shelter, how much food can he buy if he purchases 2 units of shelter?
A. 20 B. 9 C. 5 D. 10
The aggregate demand curve would shift to the left if
A) government spending were increased. B) net taxes were increased. C) the money supply were increased. D) the cost of energy were to decrease.