The relative concept of poverty is based on how far a family falls behind the
a. average family income.
b. top 20 percent of families.
c. minimum in wages.
d. any of the above.
a
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In the figure above, suppose that the government imposes a tax of $4 per pizza. Then, the tax revenue collected by the government equals
A) $240. B) $320. C) $160. D) $120. E) $4.
In the above figure for a monopolistically competitive firm, the total revenue at the profit-maximizing point is
A) $540. B) $840. C) $400. D) $880.
Risk aversion:
A. is the same for everyone. B. is an unusual type of preference. C. is an aspect of an individual's preferences. D. All of these statements are true.
If national income = $2,000 . autonomous consumption = $100, the MPC = 0.80, and intended investment demand is $500, then actual investment will
a. equal intended investment, and the economy will be in equilibrium b. be less than intended investment, and production and incomes will grow c. be greater than intended investment, and production and incomes will fall d. be less than intended investment, and production and incomes will fall e. be greater than intended investment, and production and incomes will grow