About what percentage of the poor are children?
A. 13 percent
B. 24 percent
C. 36 percent
D. 60 percent
Answer: B
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The aggregate demand curve shows the equilibrium output level at different price levels determined from the income-expenditures model
Indicate whether the statement is true or false
Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25 × PCTV + 0.0005 × M + 0.3 × PSTV, QCTV is the quantity of cable TV demanded (thousands of households), PCTV is the price of cable TV, M is income and PSTV is the price of satellite TV service. All else equal, a $10 increase in the price of satellite TV will cause the quantity of cable TV demanded to:
A. decrease by 3,000 households. B. increase by 3,000 households. C. decrease by 5,000 households. D. increase by 5,000 households.