Which statement is true?
A. The poverty line is raised each year.
B. The poverty line is lowered each year.
C. The poverty line stays the same from one year to the next.
D. None of these statements are true.
A. The poverty line is raised each year.
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To compare the change in physical production (GDP) between 2010 and 2016, we should compare ________ GDP in 2010 with ________ GDP in 2016.
A. nominal; nominal B. real; real C. real; nominal D. current dollar; current dollar
Explain the differences in people who are classified as unemployed, underemployed, and discouraged workers. Are these people included in the labor force?
What will be an ideal response?
The tax reforms of the 1980s
a. increased the percent of personal income taxed b. shifted most the tax burden onto the corporation c. reduced federal, state and local sales taxes d. reduced tax brackets and the marginal tax rates within the brackets e. resulted in reducing government deficits
Total revenue will increase if price
A. rises and demand is elastic. B. rises and demand is unit elastic. C. falls and demand is inelastic. D. falls and demand is elastic.