Roughly what percent of American families lived below the poverty line in 2010?
A) 12%
B) 22%
C) 32%
D) 42%
E) 52%
A
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Arguments that economic growth must be constrained by environmental problems and limits of natural resources ignore the fact that economic growth can:
A. occur with only benefits and no economic costs. B. take the form of improved quality as well as increased quantity. C. increase both average labor productivity and the share of population employed. D. be measured in both nominal and real terms.
Which of the following is true?
a. Advertising on a national scale became a widely accepted practice, but only after the Civil War. b. The first attempts at advertising on more than the local level were directed at consumers rather than retailers. c. By 1920, advertising was a billion-dollar industry. d. Only a and b are correct. e. Only a and c are correct.
Which of the following is not used as a trade protection practice?
a. tariff b. quotas c. safety standards d. foreign-owned domestic production e. nontariff barriers
In recent years the cost of producing wines in the U.S. has increased largely due to rising rents for vineyards. At the same time, more and more Americans prefer wine over beer. Which of the following best explains the effect of these events in the wine
market? A) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price. B) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity. C) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in both the equilibrium price and the equilibrium quantity. D) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.