If the cost of the Department of Agriculture's minimum food budget for two people is $2,000 per year, the official poverty line for a family of two would be
A. $667.
B. $2,000.
C. $6,000.
D. $12,000.
Answer: C
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Absolute advantage is the ability of a country to produce a good with ________ than another country
a. a lower opportunity cost b. a higher opportunity cost c. fewer resources d. more resources
The firm can calculate all points on its total cost curve if it knows
a. its production function. b. the prices of inputs and of output. c. its average cost at its optimal output level. d. the prices of inputs and its production function.
The four categories of final users of GDP are:
A. households, firms, governments, and the foreign sector. B. businesses, corporations, firms, and farms. C. businesses, firms, governments, and the foreign sector. D. households, the Federal Reserve, governments, and the foreign sector.
When dealing with anything that is measured as a flow, one must
A. make sure the thing can be measured accurately. B. use dollar values. C. specify a time period. D. specify one day in time.