The poverty threshold income level is
a. adjusted annually for increases in real per capita income.
b. adjusted annually for changes in prices.
c. invariant to differences in the size and composition of families.
d. the highest income level that would leave one in the bottom quintile of income recipients.
B
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In the Stackelberg model, the leader has a first-mover advantage because it
A) has lower costs than the follower. B) commits to producing a larger quantity. C) reacts to the follower's decision. D) differentiates its output.
Refer to the above table. If planned investments were fixed at $16, taxes were zero, government purchases of goods and services were zero, and net exports were zero, then equilibrium real GDP would be $630 initially. If government purchases were then raised from $0 to $10, and lump-sum taxes also increased from $0 to $10, other things constant, then the equilibrium real GDP would become:
The table shows the consumption schedule for a hypothetical economy. All figures are in billions of dollars.
A. $660
B. $630
C. $640
D. $650