The US government sets the poverty line equal to approximately
a. three times the cost of providing subsidized housing.
b. three times the cost of providing an adequate diet.
c. the minimum wage for a single person working 40 hours per week and 50 weeks per year.
d. the cost of providing food, shelter, and health care expenses for a family of four.
b
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Which of the following statements is correct?
A) The slope of a curved line is not defined because it is impossible to calculate the slope along a curved line. B) The slope of a straight line changes depending where on the line it is calculated. C) A straight line that slopes upward moving to the right has a positive slope. D) Answers A and B are correct. E) Answers A and C are correct.
Historically, price discrimination was considered illegal in all instances. More recently, antitrust authorities have discovered that
A) price discrimination can increase the coverage of a market thereby increasing welfare. B) price discrimination limits the coverage of a market thereby increasing welfare. C) price discrimination limits the coverage of a market thereby decreasing welfare. D) price discrimination can increase the coverage of a market thereby decreasing welfare.
Vertical contracts between manufacturers and retailers often aim to
a. Serve as a "signal" of the manufacturer's belief of the likely success of his product b. Reward the retailer for undertaking the risk inherent in introducing a new product c. Reimburse the retailer for the cost of managing an extended inventory d. All of the above
In an attempt to separate the quality changes from price changes of a product over time, the BLS does a:
A. hedonic quality adjustment by estimating what the price of the item would be without the improved features. B. hedonic quality adjustment by estimating the price of similar goods. C. qualitative price change by estimating the price of all possible brands of the items. D. qualitative market adjustment by estimating the price of the items in all markets.