The official poverty income threshold in the United States is
A. based on the cost of a budget that includes food, clothing, and shelter.
B. never adjusted for the effects of inflation.
C. the same for all families independent of the number of people in the family.
D. calculated as three times the cost of a minimally acceptable diet for a family.
D. calculated as three times the cost of a minimally acceptable diet for a family.
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Use the following table to answer the next question. Year123456Price Index10095105125125120If output increases by 8% from year 5 to year 6, then in that period ________.
A. real GDP will rise faster than nominal GDP B. real GDP will decrease C. real GDP will rise slower than nominal GDP D. nominal GDP will decrease
The above figure shows the market for a prescription drug. What is the equilibrium price of the drug? How many doses are purchased? Suppose the government imposes a price ceiling of $1.50 a dose
How many doses are purchased after the price ceiling is imposed?
Along a straight-line supply curve:
A. the change in elasticity depends on the supply curve in question. B. elasticity is equal to slope. C. elasticity declines as price declines. D. elasticity rises as price rises.
The first piece of antitrust legislation in the United States to deal with price discrimination was the:
a. Clayton Act. b. FTC Act. c. Celler-Kefauver Act. d. Robinson-Patman Act. e. Sherman Antitrust Act.