A family of four with one wage earner who earns the minimum hourly wage would be
A. well below the poverty line.
B. slightly below the poverty line.
C. slightly above the poverty line.
D. well above the poverty line.
A. well below the poverty line.
You might also like to view...
Payments to the factors of production are
A) rent, wages, interest, and profit or loss. B) rent, mortgage, interest, and bonds. C) rent, interest, bonds, and profit or loss. D) land, labor, capital, and entrepreneurshi
What will happen to the demand curve for tea workers if the price of tea increases, assuming all else equal?
A) There will be an upward movement along the demand curve for tea workers. B) There will be a leftward shift in the demand curve for tea workers. C) There will be a downward movement along the demand curve for tea workers. D) There will be a rightward shift in the demand curve for tea workers.
Which of the following is the correct expression for short-run aggregate supply in the new classical view?
A) YP = Y + a(P - ) B) Y = YP + a(P - ) C) YP = Y + a(P + ) D) Y = YP + a(P + )
For a nondiscriminating monopolist, which of the following is false?
a. The monopolist produces where MR = MC. b. The monopolist's marginal revenue curve is the same as its demand curve. c. The monopolist will never produce in the inelastic range of its demand curve. d. A monopolist is more allocatively inefficient than a perfectly competitive firm. e. The monopolist produces where P > MC.