Which of the following statements about the poverty line is true?
A. The percentage of people living below the poverty line has been cut in half in the last 40 years.
B. The percentage of people over 65 living below the poverty line has approximately doubled in the last 40 years.
C. The poverty line is adjusted upward for inflation every year.
D. The percentage of people living below the poverty line has approximately doubled in the last 40 years.
Answer: C
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One argument for having the government regulate natural monopolies is that without regulation ________.
A. the industry would become perfectly competitive and there would be too many firms in the market to achieve efficiency B. these monopolies produce at a level where price is greater than marginal cost C. these monopolies produce at a level where price is less than marginal cost D. these monopolies usually produce things that are potentially harmful to our health
Exchange rates (for instance, the dollar price of yen) tend to be different worldwide at any point in time because of different tastes for currencies in each country
Indicate whether the statement is true or false
The difference between a private good and a public good is that
A) private goods are government-sponsored goods while public goods are government-inhibited goods. B) externalities are always created in the production process but not in the production of public goods. C) private goods make us happy while public goods do not. D) the exclusion principle applies to a private good but not to a public good.
The real problem for people in many _______________ countries is not that globalization through international trade has made their lives worse, but rather that they have so few good employment alternatives.
a. low-income b. high-income c. large d. small