Who are the poor in the United States? How many people and what groups are most affected by poverty?
What will be an ideal response?
About 15% of people in the United States, representing about 40 million people, were classified as living in poverty in 2011. The poor are a mixed group of people that covers blacks and whites, urban and rural residents, men and women, and young and old. The poor are disproportionately concentrated among certain groups. About 28% of blacks, 25% of Hispanics, 31% of households headed by women, and about 22% of children under the age of 18, live in poverty.
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Of the following OECD countries, which has the highest life expectancy at birth?
A) the United Kingdom B) Japan C) Canada D) the United States
The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, at the equilibrium level of output,
A) resource allocation is efficient. B) resource allocation is inefficient. C) too few tons of fertilizer are produced. D) consumers must pay too high a price for fertilizer.
If the price of a good rises by 10% and the quantity purchased falls by 5%, then demand for the good is ________ and total spending on the good will ________
A) elastic; increase B) inelastic; increase C) elastic; decrease D) me and so inelastic; decrease