In 2011, the poverty rate in the United States was 15 percent. This means that 15 percent
a. of the population had a total family income that fell below the poverty line.
b. of the population had a total family income that was above the poverty line.
c. of the population had a total family income below $10,000.
d. of the population had a total family income above $50,000.
a
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The takings clause states that the government can seize private property only if ________ is provided
A) comparably-valued property B) just compensation C) fair market value D) the seller's asking price
The largest government-run health care system in the world, with 1.7 million employees, is the National Health Service (NHS) in the United Kingdom. The NHS receives its funding primarily from
A) tariffs. B) the World Health Organization. C) private businesses. D) income taxes.
How does the United States compare to other advanced, industrialized economies on the issue of openness?
A. The U.S. economy is completely closed. B. The U.S. economy is at the low end of openness. C. The U.S. economy is above average in openness. D. The U.S. economy is among the most open. E. The U.S. economy is the most open of any economy.
Economists are critical of monopoly because
A) monopolists can earn long-run economic profit. B) monopolists can create a deadweight loss. C) the demand for the monopolist's product is the market demand curve. D) economies of scope result in lower average costs.