When poverty is defined by an absolute real income level, what will happen to the poverty rate if income per capita in a country continues to grow?
A. The poverty rate will increase forever.
B. The poverty rate will increase and then decrease.
C. The poverty rate will eventually be zero.
D. The poverty rate will never change.
Answer: C
Economics
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Indicate whether the statement is true or false
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Using trade restrictions to protect special interests such as the U.S. auto industry
A) results in lower prices for U.S. auto consumers. B) raises the prices that U.S. consumers must pay for autos. C) is a very cost-efficient way of dealing with trade problems. D) is the best long-term solution for threatened U.S. jobs.
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