The poverty gap is the
A. Percentage of families under the poverty level.
B. Difference between the incomes of the richest and poorest households.
C. Difference between the income of a household in poverty and the average income.
D. Shortfall between actual income and the poverty threshold.
Answer: D
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Refer to Game Matrix I. What are the dominant strategies in this game?
a. A's dominant strategy is ?, and B's dominant strategy is ?.
b. A's dominant strategy is ?, but B does not have a dominant strategy.
c. B's dominant strategy is ?, but A does not have a dominant strategy.
d. Neither player has a dominant strategy.
When a firm decides to produce more electric cars and conventional gas powered cars, it is most directly answering the ________ part of one of the two big economic questions
A) "how" B) "scarcity" C) "what" D) "for whom"
If an economy maintains a small rate of growth for a long period of time, then the size of the economy:
A. can only increase by a small amount. B. will stay nearly constant. C. can increase by a large amount. D. can never double.
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline