The poverty line equals the:
A. average income of the bottom one-tenth of all income recipients.
B. cost of an economical and nutritional food plan for a family multiplied by six.
C. cost of an economical and nutritional food plan for a family multiplied by three.
D. average income of a family headed by a worker who has been unemployed for six months or more.
Answer: C
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If consumers decide to be more frugal and save more out of their income, then this will cause
A) a movement to the left along the supply curve for loanable funds. B) a shift in the supply curve for loanable funds to the left. C) a movement to the right along the supply curve for loanable funds. D) a shift in the supply curve for loanable funds to the right.
If a country allows its currency's value to be determined in the market for foreign exchange, it has a:
A. fixed exchange rate. B. floating exchange rate. C. prime exchange rate. D. key exchange rate.
Bob's Barber Shop cut 3,000 heads of hair in 2016 and 3,100 in 2017. The price of a haircut was $7 in 2016 and $8 in 2017. If 2014 is the base year, what was Bob's contribution to nominal GDP in the year 2016?
A. $24,800 B. $24,000 C. $21,000 D. $21,700
Refer to the table below for a monopolist. If the monopolist perfectly price-discriminated and sold each unit of the product at the maximum price the buyer of that unit would be willing to pay, and if the monopolist sold 4 units, then total profits would be:
The following question is based on the demand and cost data for a pure monopolist given in the table below.
A. $100
B. $900
C. $150
D. $400