In 2017, the poverty line for a family of four was approximately
A. $15,000
B. $25,000.
C. $35,000.
D. $35,000.
Answer: B
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Suppose corn farmers encounter a "bumper" corn crop, which results in a significant increase in the market supply curve for corn. Increases in supply will tend to
A) decrease the price of corn. B) increase the demand for corn. C) increase the price of corn. D) decrease the demand for corn.
Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. Which of the following statements is correct?
A. Tracy should specialize in sandwiches and smoothies. B. Dan should specialize in sandwiches, and Tracy should specialize in smoothies. C. Dan should specialize in both sandwiches and smoothies. D. Dan should specialize in smoothies, and Tracy should specialize in sandwiches.