According to the official U.S. threshold, 35 percent of Americans live in poverty.
Answer the following statement true (T) or false (F)
False
The Census Bureau counted over 40 million Americans as 'poor' in 2016 according to the official U.S. thresholds (as adjusted for family size). This was one out of eight U.S. households, for a poverty rate of roughly 13 percent.
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The table above shows the transaction in Pinkland last year:
a) Calculate Pinkland's GDP. b) What approach did you use to make this calculation?
Economies of scale are present when:
a) average cost rises as input increases. b) the LRAC curve is horizontal. c) total fixed cost increases. d) average total cost remains constant as input increases. e) the LRAC curve slopes downward.
The market-clearing wage differential between a safe and risky job is $5000. Which of the following is not true?
A. The average per worker cost of offering safe jobs exceeds $5000 at the risky firms. B. All but the marginal worker in safe jobs require a wage differential above $5000 to accept a risky job. C. All but the marginal worker in the risky job require a wage differential below $5000 to be indifferent between safe and risky jobs. D. The marginal worker is indifferent between working the safe or risky job. E. The per-worker cost for any firm to change technologies to offer safe jobs in place of risky jobs is $5000.
If the demand for bank loans suddenly declines, a defensive action on the part of the Fed to keep the federal funds rate constant would take the form of open market bond:
A. purchases that would prevent the federal funds rate from decreasing. B. purchases that would prevent the federal funds rate from increasing. C. sales that would prevent the federal funds rate from decreasing. D. sales that would prevent the federal funds rate from increasing.