Eric is maximizing his total utility with choices of two goods: clothes and food. His marginal utility of clothes is 60 and his marginal utility of food is 12 . The price of clothes is $20 . What must be the price of food?

A fall in the price level brings a ________ in the real wage rate that ________ profits which leads to ________

A) fall; increases; firms temporarily shutting down B) rise; reduces; firms restarting production C) rise; increases; firms temporarily shutting down D) rise; reduces; firms temporarily shutting down E) rise; increases; firms restarting production

In the United States since 1970, the poverty rate for blacks has been about:

a. 1?2 percentage points higher than the poverty rate for whites. b. twice the poverty rate for whites. c. three times the poverty rate for whites. d. five times the poverty rate for whites.