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Question
Which of the following statements is FALSE regarding the definition of poverty?
A) A threshold income level is used to define poverty.
B) Adjustments to the poverty level are made on the basis of changes in the Consumer Price Index.
C) Real incomes in the United States have been growing at a compounded annual rate of almost 2 percent per capita.
D) Poverty cannot be defined in relative terms.
Answer
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Related questions
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If the marginal product curve is intersecting the average product curve, we know thatA) the average variable cost curve is intersecting the average total cost curve.B) the marginal cost curve is intersecting the average fixed cost curve. C) the average total cost curve lies above the marginal cost curve.D) the marginal cost curve is intersecting the average total cost curve.
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B) it earns zero economic profits
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B) too much output is being produced.
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Q:
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Q:
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Q:
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Q:
Why should a perfect competitor produce at which price equals marginal cost?
Q:
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Q:
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Q:
Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firmʹsA) accounting profit was $1,000, and its economic profit was -$500. B) accounting and economic profits were both $1000.C) accounting profit was -$500, and economic profit was $1,000. D) accounting profit was $1000, and economic profit was -$1,500.
Q:
ʺThe slope of the demand curve gives the elasticity of demand.ʺ Do you agree or disagree?
Why?
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Which of the following type of shops is unlawful under the provisions of the Taft -Hartley Act?A) union shops B) closed shopsC) modified union shops D) open shops