The U.S. government counts both cash income and in-kind transfers when determining the poverty rate.
Answer the following statement true (T) or false (F)
False
In-kind transfers allow poor families to enjoy a higher living standard than their cash incomes imply. Adding those transfers to cash incomes would bring the U.S. poverty count down into the 9-11 percent range because currently only cash income is considered.
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Based on this figure, if the official fixed value of krone is fixed at $0.15 per krone, then the Norwegian krone is ________ and the international reserves of Norway will ________ krone per period. 
A. undervalued; increase by 2,000 B. undervalued; increase by 5,500 C. overvalued; decrease by 2,000 D. overvalued; decrease by 5,500
Use the following table to answer the next question. The table shows the total costs associated with varying levels of output produced by a perfectly competitive firm.OutputTotal Cost0$2,50012,70023,10033,70044,50056,000If the product sells for $1,200 a unit, the firm's profit-maximizing output is
A. 2. B. 3. C. 4. D. 5.
A patent is an example of
A) how ownership of a key input creates a barrier to entry. B) a government-imposed barrier to entry. C) how market failure can lead to oligopoly. D) occupational licensing.
According to economic theory, which of the following would most likely cause the demand curve for hamburgers to decrease?
a. a drop in the price of hot dogs b. an increase in the price of hamburgers c. a drop in the price of hamburgers d. a technological advance that reduces the cost of making frozen hamburger patties.