The income level below which families are said to be poor is known as the
a. income maintenance threshold.
b. poverty line.
c. bottom quintile of the income distribution.
d. minimum wage.
b
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In general, individuals and nations should specialize in producing goods ________ other individuals or nations.
A. for which they have a lower opportunity cost compared to B. that they can produce more quickly than C. that they can produce less quickly than D. for which they have a higher opportunity cost compared to
In the table above, if Brent maximizes his utility by consuming 3 bags of popcorn and 3 bottles of soda, then the ratio of the price of popcorn to the price of soda is expected to be
A) 1/2. B) 5/6. C) 6/5. D) 2.
If the consumption function is defined as C = 5,500 + 0.9Y, what is the autonomous level of consumption expenditure?
A) $4,950 B) $5,500 C) $6,050 D) $6,111
Which of the following did NOT contribute to the European experience of the past few decades where the stand of living rose more slowly than labor productivity?
A) longer vacations B) higher unemployment C) higher participation rates D) All of the above