The poverty threshold income level is
a. adjusted annually for increases in real per capita income.
b. adjusted annually for changes in prices.
c. invariant to differences in the size and composition of families.
d. the highest income level that would leave one in the bottom quintile of income recipients.
B
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Use the following table to answer the next question.Money SupplyInterest RateGross Investment$200 billion0.2%$1 trillion$250 billion0.2%$1 trillion$300 billion0.2%$1 trillionWhich limitation for monetary policy is illustrated by the table?
A. crowding out B. pessimistic business expectations C. policy lags D. the liquidity trap
The marginal rate of technical substitution of labor for capital measures
a. the amount by which capital input can be reduced while holding quantity produced constant when one more unit of labor is used. b. the amount by which labor input can be reduced while holding quantity produced constant when one more unit of capital is used. c. the ratio of total labor to total capital. d. the ratio of total capital to total labor.
If an individual's opportunity cost of commute is $300 per month and his monthly commuting time is 60 hours, his opportunity cost of time is:
A) $10 per hour. B) $5 per hour. C) $30 per hour. D) $60 per hour.
Suppose real GDP was 100 in year 1 and 105 in year 2. The growth rate of real GDP is
A) 0.5 percent. B) 1.5 percent. C) 2.5 percent. D) 5 percent.