In the United States, there are a number of programs that provide goods and services, such as food, medical care, and housing, to the poor. How could income standards be changed, in light of these programs, to better reflect absolute poverty?
a. The income standards should not change because these programs provide goods and services, not money.
b. The income standards should be increased, since
it costs money to provide these goods and services.
c. The income standards should be increased, because these programs will affect the relative measure of poverty.
d. The income standards should be decreased, since program recipients require less income to meet a minimum standard of living.
d
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Autonomous consumption
A) is the same as the break-even point. B) gives the amount a person changes planned consumption for a change in real disposable income. C) is the amount of consumption that is independent of the level of disposable income. D) is the proportion of total disposable income that is consumed.
The value of tires purchased by a company to use on its cars is not included when calculating the gross domestic product (GDP)
a. True b. False Indicate whether the statement is true or false
If the real rate of return is 2 percent, and the inflation rate is 2 percent, then the nominal interest rate must be:
A. 4 percent. B. 2 percent. C. ?2 percent. D. ?4 percent.
Last year the imaginary nation of Freedonia had a population of 2,800 and real GDP of 16,800,000 . This year it had a population of 2,700 and real GDP of 15,390,000 . About what was the growth rate of real GDP per person between last year and this year?
a. -5.3 percent b. -5 percent c. 5 percent d. 5.3 percent