Question

An income to poverty ratio of _____ would classify a household as severely poor.

Question 8 options:

a)

0.75

b)

1.0

c)

1.25

d)

0.3

Which of the following is NOT a measure of income?

Question 9 options:

a)	last year's household earnings

b)	a month's worth of earnings

c)	your assets as of July 1, 2014

d)	a week's worth of earnings from your part-time job

Regarding economic policy, there is a fundamental tradeoff between:

Question 10 options:

a)	equity and efficiency.

b)	income and wealth.

c)	economic discrimination and segmented labor markets.

d)	wealth and poverty.

The service economy:

Question 11 options:

a)	uses primarily lower-wage employees.

b)	is more important in other countries than in the United States.

c)	requires higher-skilled and more-educated employees than the manufacturing sector.

d)	is an increasingly smaller part of the total economy.

Answer 1

Question 8 option (c) is correct- 1.25

(the household who are 125 percent below poverty comes under income to poverty rato 1.25 so they can be considered as severely poor.

9 - option (c) assets are money or property that one is already having but earnings are the income what comes in.

10.option (a) equity and efficiency ( equity is the phenomena of distribution of economic resources and efficiency means size of the economic resources, and in an economy we have to face trade off to deal with distribution of resources)

11.option (c) requires higher skilled and more educated employees than the manufacturing sector ( service sector is largely skill reliant economy )