If a family falls below the federal poverty line, ______ considered to be poor.

Explain the impact of: 1 . A rent ceiling set below the equilibrium price. 2 . A price floor set above the equilibrium price

The nation of Farmland forbids international trade. In Farmland, you can exchange 1 pound of beef for 2 pounds of pepper. In other countries, you can exchange 1 pound of beef for 4 pounds of pepper. These facts indicate that

a. Farmland has a comparative advantage, relative to other countries, in producing beef. b. other countries have an absolute advantage, relative to Farmland, in producing beef. c. the price of beef in Farmland exceeds the world price of beef. d. if Farmland were to allow trade, it would export pepper.