The official poverty rate of elderly families
a. has been virtually unchanged for the last four decades.
b. increased as the elderly became a larger proportion of the U.S. population during the 1970s.
c. rose prior to the War on Poverty programs of the late 1960s, but it has declined steadily since.
d. has declined during the last four decades.
D
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Which of the following are included in the supply of loanable funds?
I. private saving II. government budget surplus III. international borrowing A) I, II and III B) I and III C) II and III D) I and II
When consumption and leisure are both normal goods, after an increase in real dividend income minus taxation, the rational consumer
A) increases consumption and increases leisure. B) increases consumption and reduces leisure. C) reduces consumption and increases leisure. D) reduces consumption and reduces leisure.
Total consumer surplus is measured as the area:
A. beneath the market price and above the supply curve. B. above the demand curve. C. between the demand curve and the supply curve. D. beneath the demand curve and above the market price.
The Department of Justice has challenged the merger of two firms, and the case has ended up in the Supreme Court. The two firms argue that they will not use their monopoly power to raise prices or to cut output. Under what judicial standard would their merger be allowed, and under what judicial standard would their merger be disallowed?
What will be an ideal response?