According to official statistics in the United States, a person is classified as poor
A. if the person's money income is below the poverty income threshold.
B. only if the person's money income is below the poverty income threshold AND the person is not working.
C. only if the person's money income is below the poverty income threshold AND the person is homeless.
D. if the person's money income and the value of non-cash transfers is below the poverty income threshold.
A. if the person's money income is below the poverty income threshold.
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The curve that shows alternative combinations of the price level and real income that result in equilibrium in both the real goods and the money markets is called the:
A) aggregate demand curve. B) short-run aggregate supply curve. C) long-run aggregate supply curve. D) none of the above.
Which of the following expeditions is associated with Bartholomeu Dias?
a. Rounding the Cape of Good Hope b. Sailing from Portugal to India and back to Portugal c. Sailing around the world d. Reaching South America e. Exploring the interior landmass of Canada
If inventory levels are decreasing, then we should expect business firms to
a. decrease prices. b. decrease output. c. lay off workers. d. increase output.
The demand for novels is ________ than is the demand for science textbooks because ________.
A. less price elastic; novels have less available substitutes. B. less price elastic; novels have more available substitutes. C. more price elastic; novels have more available substitutes. D. more price elastic; novels have less available substitutes.