Which of the following would we expect to have the highest poverty rate?
A. White households headed by males.
B. Elderly white households.
C. White households headed by females.
D. African-American households headed by females.
Answer: D
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Farmer Ken in Kentucky can raise either 80 pounds of tobacco or 40 bushels of cotton on an acre. Farmer Calvin in California can raise either 150 pounds of tobacco or 50 bushels of cotton on an acre. Which farmer can produce tobacco more efficiently?
a. Farmer Ken in Kentucky. b. Farmer Calvin in California. c. The two farmers are equally efficient at growing wheat. d. More information is needed to determine comparative advantage.
"The Federal Open Market Committee (FOMC) is the group within the Federal Reserve that makes monetary policy decisions. The FOMC meets twice a year and each meeting lasts eight days." Are these two statements correct or incorrect? Why?
What will be an ideal response?
Which of the following is CORRECT? Factors of production are
A) land, labor, the price system, and capital. B) the inputs used to produce goods and services. C) the fundamental source of abundance. D) only land and labor.
Explain the long-run consequences of continued increases in the money supply
What will be an ideal response?