The poverty gap is
A. the percentage of people in households with income under the poverty line.
B. that level of income sufficient to provide a family with a minimally adequate standard of living.
C. the amount of money the poor must earn from work.
D. the total amount of money that would have to be transferred to households in poverty to lift them out of poverty.
Answer: D
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How would you contrast the interactions within a small family to those in the market place? In what way could you argue that the ways in which interactions are governed in the family can never work in a larger market setting -- just as the ways in which interactions are structured in market settings can never work well in families?
What will be an ideal response?
________ in the domestic interest rate causes the demand for domestic assets to increase and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
Suppose an industry receives protection from the government in the form of tariffs
A number of years later, it is observed that the quantity supplied by domestic firms had decreased and that the domestic price was substantially greater than the world price. We could conclude that A) the tariff had been imposed to counteract dumping and had been successful. B) removal of the tariff would actually cause domestic output to increase and price to fall. C) the tariff had been imposed to protect an infant industry and that the industry still needed protection. D) removal of the tariff would cause domestic output to fall even further and the price to fall to consumers.
Which of the following would not be included in government purchases?
a. The purchase of a computer by a government agency b. Welfare payments c. Wages of government employees d. The purchase of a police car e. Spending on a new missile program