Which country of those listed below has the highest percentage of children living in households with income below 50% of the national median?
A. Germany
B. Australia
C. The United States
D. Canada
C. The United States
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The demand curve for a perfectly competitive firm is ________, while the demand curve for a monopolist is ________.
A. perfectly inelastic; perfectly elastic B. perfectly elastic; downward-sloping C. vertical; downward-sloping D. perfectly elastic; perfectly inelastic
Country A imports 1,000 cars per month. After imposing a $50 per car tariff, imports fall to 800 cars per month. How much does Country A's government collect in tariff revenue?
A) $40,000 B) $90,000 C) $10,000 D) $60,000 E) $50,000
If the demand for money was totally independent of the interest rate, the LM curve would ________ and monetary policy would ________
A) have a positive slope, quite powerful B) have a positive slope, impotent C) be vertical, quite powerful D) be vertical, impotent
If the exchange rate is defined as the price of the foreign currency in terms of the domestic currency, an increase in the exchange rate:
a. increases domestic demand for foreign goods. b. makes domestic goods cheaper in the foreign markets. c. lowers net exports. d. lowers aggregate expenditure on domestic goods. e. increases the domestic country's external debt burden.