The poverty line is
A. the percentage of households with income insufficient to provide an adequate standard of living.
B. that level of income just sufficient to provide a family with a minimally adequate standard of living.
C. the amount of money the poor earn from work.
D. the amount of money that would have to be transferred to poor households to lift them out of poverty.
Answer: B
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If firms' expectations about the future become pessimistic so that they think future profits will be lower, then
A) aggregate demand decreases and the AD curve shifts leftward. B) aggregate demand increases and the AD curve shifts rightward. C) the quantity of real GDP demanded decreases, and there is a movement up along the AD curve. D) the quantity of real GDP demanded increases, and there is a movement down along the AD curve. E) the aggregate demand curve does not shift, but potential GDP decreases.
Compensation of employees is the largest component of GDP using the income approach
a. True b. False Indicate whether the statement is true or false
For several years, a company with a patent can enjoy ______.
a. sharing technology openly b. freedom from regulation c. fair competition d. a monopoly
Use aggregate supply and demand analysis to explain real business cycle theory.
What will be an ideal response?