If the value of non-cash assistance to the poor were included in their income
A. the official number of persons classified as poor would be higher.
B. the official number of persons classified as poor would be lower.
C. the poverty income threshold would decrease.
D. the poverty income threshold would increase.
B. the official number of persons classified as poor would be lower.
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________ are asymmetric information problems that act as a barrier to efficient allocation of capital
A) Asset prices B) Credit imbalances C) Financial frictions D) Financial derivatives
The total welfare cost of a monopoly that engages in rent-seeking activities
a. equals only the portion of lost consumer surplus that is not transferred to the monopolist b. includes the use of resources devoted to rent seeking c. equals the total reduction in consumer surplus d. equals the total economic profit earned by the monopolist e. excludes the use of resources devoted to rent seeking
According to the Phillips curve, what is the relationship between unemployment and inflation?
a. There is no relationship. b. There is a direct relationship. c. There is an inverse relationship. d. There is an equilibrium relationship.
According to purchasing-power parity, which of the following necessarily equals the ratio of the foreign price level divided by the domestic price level?
a. the real exchange rate, but not the nominal exchange rate b. the nominal exchange rate, but not the real exchange rate c. the real exchange rate and the nominal exchange rate d. neither the real exchange rate nor the nominal exchange rate