The level of money income below which a family is considered poor is called the:

a. bottom 20 percent of the income distribution.
b. poverty income level.
c. guaranteed income level.
d. subsistence income level.


b

Economics

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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:

A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.

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Why is the Social Security system in crisis at a time when it's running large surpluses? What's the source of the problem? What solutions have been proposed?

What will be an ideal response?

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There are no arguments in favor of inheritance taxation on efficiency grounds, only on equity grounds

a. True b. False

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A summary of a country's economic transactions with foreign residents and governments is called the

A) current account balance. B) capital account balance. C) balance of trade. D) balance of payments.

Economics