The level of money income below which a family is considered poor is called the:
a. bottom 20 percent of the income distribution.
b. poverty income level.
c. guaranteed income level.
d. subsistence income level.
b
Economics
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When an expansion is triggered by a(n) ________ in autonomous expenditure, the economy turns the corner into ________, and aggregate planned expenditure exceeds real GDP. Firms' inventories ________
A) increase; recession; decrease B) increase; recession; increase C) increase; expansion; increase D) increase; expansion; decrease E) decrease; expansion; decrease
Economics
A concave production possibilities frontier exhibits
a. increasing opportunity cost b. decreasing opportunity cost c. constant opportunity cost d. diminishing returns e. returns to scale
Economics