Compared to those with higher incomes, low-income families are more likely to
a. be headed by a person between 35 and 55 years of age.
b. have both a husband and a wife in the labor force.
c. be single-parent families.
d. be headed by a college graduate.
C
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Refer to the above figure. Demand is
A) perfectly elastic. B) unitary elastic. C) perfectly inelastic. D) undetermined without more information.
Usury laws are designed to ensure that interest rates in the market do not exceed acceptable norms.
Answer the following statement true (T) or false (F)
Which statement is true?
A. Virtually everyone agrees that the federal minimum wage rate should be raised. B. Virtually everyone agrees that the federal minimum wage rate is currently too high. C. Many people believe that the federal minimum wage rate is too high, while many others believe it is too low. D. Most people agree that the federal minimum wage rate is just about at the right level.
If output per capita grows by a constant 6% per year, then the standard of living would grow by about ________ over 3 years
A) 12% B) 17% C) 18% D) 19% E) 20%