The official poverty income threshold in the United States is
A. based on the cost of a budget that includes food, clothing, and shelter.
B. never adjusted for the effects of inflation.
C. the same for all families independent of the number of people in the family.
D. calculated as three times the cost of a minimally acceptable diet for a family.
D. calculated as three times the cost of a minimally acceptable diet for a family.
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An increase in the price of a particular good, with all other variables constant, causes
a. a movement along a given supply curve to a lower quantity supplied b. a shift to a different supply curve with lower quantities supplied c. a movement along a given supply curve to a higher quantity supplied d. a shift to a different supply curve with higher quantities supplied e. no movement along a given supply curve unless demand also changes
Which of the following is true of standard economic analysis?
A. It characterizes a firm as a black box that transforms inputs to outputs. B. It applies basic economic tools to examine the effects of managerial decisions. C. It focuses on the internal architecture of a firm. D. It characterizes a firm as an organization that generates economic growth.