Marginal cost is the additional cost incurred as a result of making an economic decision
a. True
b. False
Indicate whether the statement is true or false
True
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Marlene earns a monthly net income of $1,000 for herself and her three school-age children, which puts her family well below the poverty line. Each month she spends $500 on rent, $200 on utilities, and about $150 on school supplies, clothes, shoes, and after-school care for her children. This leaves her with about $250 to spend on nutritionally adequate food for the family each month. Would Marlene qualify for the Supplemental Nutrition Assistance Program (SNAP)?
a. Because Marlene has less than 30% of her income available for a nutritionally adequate diet for her family, she would qualify for SNAP. b. Because Marlene earns a monthly income of $1,000, she is not eligible for SNAP but might be eligible for the Women, Infants, and Children (WIC) program. c. Marlene is not eligible for SNAP, but she is eligible for Temporary Assistance for Needy Families (TANF); this will mean she is caught in the poverty trap. d. While Marlene is not herself eligible for SNAP, her children are eligible for the free breakfast and lunch program at their school, which will provide them with a nutritionally adequate diet.
The shape of the _____ curve determines the impact of an aggregate demand shift on prices and output.
A. Marginal revenue B. Total cost C. Production possibilities D. Aggregate supply
Each C + I + G + (X ? IM) expenditure schedule is drawn assuming a specific
A. income level. B. spending level. C. production level. D. price level.
The fact that some resource prices are fixed by contracts help explain why firms:
What will be an ideal response?