Since 1973 the incidence of poverty has generally increased for
A. children.
B. the elderly.
C. married couples.
D. All of the choices are true.
A. children.
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The Federal Reserve
On a Phillips curve diagram, an increase in the rate of inflation and a decrease in the rate of unemployment, is represented by a (an)
Van, whose utility of wealth curve is shown in the above figure, owns a home that is valued at $100,000. There is a 10 percent chance that the house will be destroyed by hurricane. The minimum cost of insurance in this case is
A) $10,000. B) $20,000. C) $30,000. D) $40,000.
Suppose there are two drivers, Jermaine and Janet. Jermaine is not a very safe driver. In fact, there is a 7.5% chance that he will have an accident within the next year. Janet is a relatively safe driver. Her chances of having an accident in the next year are only 1%. If Jermaine is involved in an accident, he will cost the insurance company $1,000,000. If Janet is involved in an accident, she will only cost the company $500,000. What is the expected pay-out that the company can expect from insuring these two?
What will be an ideal response?