Because the value of non-cash benefits to the poor is not counted when calculating the official poverty rate in the U.S., the official statistics
A. underestimate the poverty rate.
B. overstate the real income of the poor.
C. accurately measure the poverty rate.
D. overestimate the poverty rate.
D. overestimate the poverty rate.
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If a market is narrowly defined, the market share of each firm declines than if it is broadly defined
a. True b. False Indicate whether the statement is true or false
Which of the following can be considered as a cultural barrier to trade?
a. Prohibition on Zimbabwean aircrafts from flying over or landing in Canada b. Restriction on the export of luxury goods to the Democratic Peoples Republic of Korea from Canada c. An arms embargo imposed on China by the U.K. government d. Japanese law requiring a new retail firm to receive permission from other retailers in the area in order to open a business e. Restriction on the export of strategic goods to Ghana imposed by the government of U.K
Taxes cause deadweight losses because taxes
a. reduce the sum of producer and consumer surpluses by more than the amount of tax revenue. b. prevent buyers and sellers from realizing some of the gains from trade. c. cause marginal buyers and marginal sellers to leave the market, causing the quantity sold to fall. d. All of the above are correct.
If the fiscal policy makers aim to increase aggregate demand, they will likely enact:
A. contractionary fiscal policy. B. expansionary fiscal policy. C. contractionary monetary policy. D. expansionary monetary policy.