If the poverty line is set too high, the official poverty rate will be
A. negative.
B. higher than the true level.
C. lower than the true level.
D. unaffected by this problem.
Answer: B
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One way for a company like McDonalds to overcome principal-agent problems is to advertise for franchisees
a. True b. False
Teresa faces prices of $6.00 for a unit of good X and $1.50 for a unit of good Y. At her optimum, Teresa is willing to give up 1 unit of good X for __________ units of good Y
Fill in the blank(s) with correct word
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. A movement from Point A to Point B on demand curve D2 would be caused by a(n)
A. increase in the price of pizza. B. decrease in income, assuming pizza is a normal good. C. decrease in the price of pizza. D. decrease in the price of burritos, assuming that pizza and burritos are substitutes.
The best explanation for ________ is a fixed factor causes diminishing returns to other factors.
A. the shape of a short-run marginal cost schedule B. a horizontal marginal revenue curve C. increasing returns to scale D. a perfectly competitive firm earning economic profits in the long run