Which statement about the U.S. poverty line is true?
a. The poverty line is adjusted for the value of food aid.
b. The poverty line is based on cash income.
c. The poverty line varies from state to state.
d. The poverty line fluctuates with Medicaid claims.
b. The poverty line is based on cash income.
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Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price decreases from $16 to $14 is
A. -3.29. B. -1.37. C. -0.33. D. -1.
Concepts useful in evaluating the costs and benefits of alternative types of taxes are:
A. efficiency, incidence and scarcity. B. revenue, scarcity, and shortage. C. incidence, scarcity, and shortage. D. efficiency, revenue and incidence.
The Federal Open Market Committee makes decisions about ________ policy.
A. monetary B. banking C. deposit insurance D. fiscal
Refer to Tax Problem. If the government imposes a $10 per unit consumption tax, then the market will produce
Consider a perfectly competitive market were demand is Q = 100 - P and Supply is Q = P - 10. a. 20 units b. 40 units c. 45 units d. 90 units