The official poverty level is based on
A) total net worth.
B) pretax income, and includes cash subsidies but does not include in-kind subsidies such as food stamps.
C) after-tax income, and includes both cash and in-kind government subsidies.
D) wages and salaries, plus any unreported amounts of income from the underground economy.
B
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Assume that the supply curve is horizontal because marginal cost is constant at $10. John, Robert, and Jimmy each value one compact disc at $20 but only Jimmy and John value a second compact disc (Jimmy at $5 and John at $15). It follows that the optimal number of compact discs sold in this market is
a. two. b. three. c. four. d. five.
John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the table below:Hours PerDay CleaningWindowsTotal Numberof WindowsCleaned0017211314416517What is the lowest price per window that would induce John to spend at least one hour per day cleaning windows?
A. $2 B. $3 C. $1 D. $7
If an apartment owner charged ________ than a specified rent for housing, the government ________ impose a rent ceiling
A) more; can B) more; cannot C) less; can D) less; cannot E) less; might
Investment is usually
A) more variable than consumption. B) less variable than consumption. C) as variable as consumption. D) It is hard to tell from the data whether investment is more or less variable than consumption. E) a larger component of the GNP than consumption.