The poverty rate in the United States was:
A. 12 percent in 2011.
B. higher in 2011 than in 1960.
C. about the same in 2011 as in 1993.
D. nearly 20 percent in 2011.
Answer: C
Economics
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A positive statement is
A) about what ought to be. B) about what is. C) the result of a model's normative assumptions. D) valid only in the context of a model with simple assumptions.
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Doctors and lawyers in every state need a license to practice. This is an example of
A) ownership of a key input. B) consumer protection laws. C) consumer advocacy. D) occupational licensing.
Economics