The official poverty definition in the U.S. is having an income that
a. provides minimum biological needs
b. is less than three times the cost of a nutritionally adequate yet frugal diet
c. places the household in the bottom 20 percent of the income distribution
d. is less than the average U.S. welfare allowance
e. is approximately equal to the average household income of Canada
B
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If the marginal rate of return expected from a purchase of equipment is greater than the market interest rate, the firm should
a. not purchase the equipment b. purchase the equipment c. either purchase or not purchase the equipment, depending on the marginal resource cost d. inform stockholders that the company expects a decrease in earnings from the purchase e. seek government assistance in raising market interest rates
Tom Atoe grows fruits and vegetables for home consumption. This activity is:
A. excluded from GDP in order to avoid double counting. B. excluded from GDP because an intermediate good is involved. C. productive but is excluded from GDP because no market transaction occurs. D. included in GDP because it reflects production.