The percentage of families with incomes below the poverty line
a. is defined as the 10 percent of U.S.households with the lowest incomes.
b. is known as the poverty rate.
c. is known as the unemployment rate.
d. rises as the general income level rises.
b
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A market is said to be allocatively efficient when the marginal cost of producing each good equals the marginal benefit that consumers derive from that good
a. True b. False
If total profit is maximized, then marginal cost must equal marginal revenue
a. True b. False Indicate whether the statement is true or false
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
What is the future value of $375 at an interest rate of 3 percent one year from today?
a. $371.75 b. $386.25 c. $393.33 d. None of the above are correct to the nearest cent.