What percent of families are poor for eight or more years?

a. more than 20 percent
b. between 15 and 20 percent
c. approximately 10 percent
d. less than 3 percent

d

Economics

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Describe what is a J Curve?

What will be an ideal response?

Economics

Suppose the price of good X falls. As a result, the quantity demanded for good X increases for a particular consumer. For this consumer, the substitution effect induced the consumer to purchase more X while the income effect induced the consumer to purchase less X. We can infer that X is a(n)

a. normal good. b. inferior good. c. Giffen good. d. luxury good.

Economics