The poverty threshold income level equals the
a. average income of the bottom one-tenth of all income recipients.
b. cost of an economical and nutritional food plan for a family multiplied by six.
c. cost of an economical and nutritional food plan for a family multiplied by three.
d. average income of a family headed by a worker who has been unemployed for six months or more.
C
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Adolph Wagner wrote that the public sector would continuously and inevitably expand due to
a. bureaucratic self-interest. b. the "tyranny of the status quo". c. labor's increasing demand for social justice. d. increasing demand for military protection from international threats.
In the long run, when economic profit is greater than zero in a perfectly competitive industry, _____
a. existing firms contract their production levels b. firms suffer losses but decide to operate c. there is an upward pressure on the market price of the good d. new firms enter the industry