Between 2006 and 2008 the poverty rate
A. rose by about one percent.
B. fell by about one percent.
C. rose by around three percent.
D. fell by about three percent.
A. rose by about one percent.
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Rosa deposits $100 in a bank account that pays an annual interest rate of 20 percent. A year later, after Rosa has accumulated $20 in interest, she withdraws her $120 . Rosa's purchasing power
a. did not change if the inflation rate was 20 percent. b. decreased if the inflation rate was -5 percent. c. increased if the inflation rate was 22 percent. d. More than one of the above is correct.
Which of the following was not characteristic of the U.S. economy during the Great Depression?
A. Automobile production fell. B. The stock market crashed. C. Families lost their farms. D. Unemployment reached 50 percent.
Which of the following statements regarding price elasticity of supply and the length of time for adjustment is FALSE?
A. The shorter the time period for adjustment, the smaller is the price elasticity of supply. B. The longer is the time period for adjustment, the greater is the price elasticity of supply. C. The longer is the time period for adjustment, the less is the extent to which resources flow into (or out of) an industry through expansion (or contraction) of existing firms. D. The longer is the time period for adjustment, the greater is the extent to which entry or (exit) of firms increases or (decreases) production in an industry.
A quota is a tax on imports.
Answer the following statement true (T) or false (F)