In 2011, the Census Bureau introduced an alternate poverty measure that is based on:
A. the price of housing, and adjusts for geographic differences in the cost of living.
B. the average income of the lowest quartile of income earners.
C. the prices of food, clothing, shelter, and utilities, and adjusts for geographic differences in the cost of living.
D. the price of food, and adjusts for geographic differences in the cost of living.
Answer: C
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For certain public projects such as building a dam on a river or a bridge to an island, what procedure is a government likely to use to determine what quantity of a public good should be supplied?
A) It hires economists to estimate the market demand for the product. B) It evaluates the costs and benefits of producing the good. C) It takes a vote in Congress. D) It conducts public surveys to determine if consumers want the product.
A decrease in resources, efficiency, or technology will shift the:
A) short-run aggregate supply curve rightward. B) short-run aggregate supply curve leftward. C) long-run aggregate supply curve rightward. D) long-run aggregate supply curve leftward.
Governments can affect the level of aggregate demand in a direct way by changing
a. government spending. b. exports. c. taxes. d. transfer payments.
Which considerations regarding regulatory policies were related to the production of the Toyota Prius in the United States?
A.Toyota had to make sure it complied with health and safety regulations. B. Since the car was a hybrid, Toyota did not have to worry about federal emissions standards. D. All of the above C. Since Toyota is a Japanese producer, the regulatory policies of the United States did not apply to its new cars.