If the fraction of the population that is below the official poverty level has decreased, then
a. the number of poor must have increased
b. the number of poor must have decreased
c. the population must have increased
d. the number of poor may have increased or decreased
e. the number of people above the official poverty level must have increased
D
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The official settlements account of a country measures
A) the receipts from goods and services bought and sold and transfers to and from foreigners. B) borrowing and lending between the country's residents and foreigners. C) the net increase or decrease in the country's official reserves. D) net transfer payments between the country's citizens and foreigners.
Refer to Figure 4.2. The substitution effect on the quantity of clothing purchased is:
A) the change from C3 to C1. B) the change from C3 to C2. C) the change from C2 to C1. D) the change from C1 to C2. E) none of the above