If an individual invests $20 in a bank deposit promising an interest of 12 percent per annum, compounded annually, he will receive $40 after 8 years

The major economic problem is to:

a. provide for full employment. b. eliminate scarcity. c. increase the standard of living. d. allocate limited resources among unlimited uses. e. increase leisure.

In 2008 if the poverty line had been set lower, the poverty rate would have been ________.

Fill in the blank(s) with the appropriate word(s).