In 2011, the Census Bureau introduced an alternate poverty measure that is based on:
A. the price of food, and adjusts for geographic differences in the cost of living.
B. the prices of food, clothing, shelter, and utilities, and adjusts for geographic differences in the cost of living.
C. the price of housing, and adjusts for geographic differences in the cost of living.
D. the average income of the lowest quartile of income earners.
B. the prices of food, clothing, shelter, and utilities, and adjusts for geographic differences in the cost of living.
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During World War II, the distribution of income shifted. Who did this shift favor?
(a) Labor (b) The idle and wealthy class (c) The government (d) Foreign-born individuals
A firm built an inventory of 16-bit chips for $50,000 last year. However, the introduction of 32-bit chips lowers the market price for 16-bit chips and the inventory can only be sold for $40,000 now. What is the sunk cost?
A) $50,000 B) $40,000 C) $10,000 D) $90,000