The poverty threshold income level is
a. an absolute amount that applies to all families equally (i.e., $20,000 household earnings for 2010).
b. variable with respect to family size and composition.
c. adjusted once each decade, with the census numbers.
d. all of the above.
B
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A stronger dollar leads to lower input prices for U.S. firms because
A) U.S. workers are willing to work for less pay because of the stronger dollar. B) U.S. producers of intermediate goods lower prices in order to benefit from the stronger dollar. C) both exports of raw materials and intermediate goods are lower in prices. D) both imports of raw materials and intermediate goods are lower in prices.
What factors can change expectations about the exchange rate?
A) interest rate parity B) purchasing power parity C) real GDP parity D) Both answers A and B are correct.
Which of the following statements concerning the relationships among the firm's total cost functions is false?
A) TC = TFC + TVC B) TVC = TFC - TC C) TFC = TC - TVC D) TC = TFC when output = 0.
The Coase Theorem states that _____
a. in the absence of transactions costs, the allocation of resource will be independent of property right assignment b. in the absence of transactions costs, the allocation of resources will be dependent on property right assignment c. with transactions costs, the allocation of resources will be independent of property right assignment d. with transactions costs, the allocation of resources will be dependent of property right assignment