The U.S. Department of Agriculture defines the official poverty level as
a. the bottom 10 percent of the income distribution
b. the poorest 2 million households
c. income less than $15,000
d. income equal to three times the estimated cost of a nutritionally adequate diet
e. being unemployed for more than two months
D
Economics
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The agreement between the United States, Mexico, and Canada that sought to lower trade barriers is known as
A) the General Agreement on Tariffs and Trade. B) the North American Free Trade Agreement. C) the World Trade Organization. D) the Smoot-Hawley Tariff Act. E) the New World Free Trade Agreement.
Economics
If a 10 percent increase in price causes a 5 percent increase in quantity supplied, then supply is
A) elastic. B) inelastic. C) unit elastic. D) infinite.
Economics