If the cost of the Department of Agriculture's minimum food budget for two people is $3,000 per year, the official poverty line for a family of two would be
A. $1,000.
B. $3,000.
C. $9,000.
D. $18,000.
Answer: C
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Protectionism
A) is the use of cheap labor to protect firms from paying high wages. B) refers to the use of copyright and trademark laws to protect inventors and artists from losing the rights to their creative efforts. C) is the use of trade barriers to protect domestic firms from foreign competition. D) refers to reductions in tariffs and other barriers that protect consumers from paying high prices.
An insurer requiring a policyholder with a collision claim to submit more than one estimate of the repair costs is using a deductible to reduce morally hazardous behavior
Indicate whether the statement is true or false
Suppose that in the absence of trade, the U.S. price for bicycles was higher than the world price for bicycles. Would allowing international trade mean that the United States would import or export bicycles? Who in the United States would benefit and who would lose with a free trade policy, and would the gains be greater than the losses?
Laura is a manager for HP. When Laura must decide whether to produce a few additional printers, she is choosing at the margin when she compares
A) the total revenue from sales of printers to the total cost of producing all the printers. B) the extra revenue from selling a few additional printers to the extra costs of producing the printers. C) the extra revenue from selling a few additional printers to the average cost of producing the additional printers. D) HP's printers to printers from competing companies, such as Lexmark.