The official poverty-line income is adjusted annually for _____
a. income taxes
b. unemployment compensation benefits
c. house rents
d. inflation
e. increases in health-care costs
d
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If there is a positive relationship between two variables,
A) the graph of the relationship will be downward sloping. B) the graph of the relationship will be upward sloping. C) the slope of the line graphing the relationship will be negative. D) Both answers A and C are correct. E) Both answers B and C are correct.
Assume there is a reduction in the shipments of petroleum products due to political tension in the Persian Gulf. Which of the following would not be expected to happen?
A) Oil companies would "ration" their supplies of gasoline by raising price. B) There would be a shortage of the original equilibrium price. C) Quantity demanded would decrease. D) The demand curve would shift to the left.