In the United States, the official poverty line is calculated by multiplying:
A. the average expenditure on housing for a family of a given size by 3.
B. the cost of food for a family of a given size by 3.
C. the average expenditure on housing for a family of a given size by 2.
D. the cost of food for a family of a given size by 2.
B. the cost of food for a family of a given size by 3.
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The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year
When a $2 tariff is in place, U.S. production is equal to ________ batteries per year. A) 900,000; 700,000 B) 300,000; 100,000 C) 100,000; 500,000 D) 300,000; 500,000 E) 100,000; 300,000
The problem of "scarcity" applies
A) only in industrially developed countries because resources are scarce in these countries. B) only in underdeveloped countries because there are few productive resources in these countries. C) only in economic systems that are just beginning to develop because specialized resources are scarce. D) to all economic systems, regardless of their level of development.
An expansionary monetary policy, all else equal, will:
A) depreciate the domestic currency. B) appreciate the domestic currency. C) all of the above. D) none of the above.
In the 1960s, banks started issuing negotiable CDs in order to
A) offer higher interest rates than they were allowed to on deposits. B) lower information costs. C) appeal more to the small borrower. D) lend in the direct finance market.