Some economists argue that the official poverty figures overstate poverty in this country. Why?
What will be an ideal response?
Official poverty figures do not include in-kind subsidies, which would lift some people above the official poverty cutoff. They also do not include income from the underground economy. Someone who works for cash and does not report it to the government has a higher income than official statistics indicate.
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The Farm Factory, a booth at the local Farmer's Market, sells fresh eggs for $1.50 per dozen and fresh milk for $2.50 per gallon. What is the opportunity cost of buying a dozen eggs?
A) $1.50 B) $2.50 C) 1 2/3 gallons of milk D) 3/5 of a gallon of milk
The largest component of national income is:
A) compensation of employees B) proprietor's income C) rental income D) corporate profits
In the United States, monetary policy is determined by
A) the Federal Reserve. B) the president. C) private citizens. D) the Treasury Department.
Because employer-provided health insurance was too expensive, a major employer decided to self-insure and simply pay for medical bills itself rather than a premium to an insurance company. As a result
a. they are more likely to institute a wellness program for employees b. they are less likely to institute a wellness program for emp c. they are indifferent with regards wellness programs d. they will regret this decision