Author Question: Explain how menu costs affect the slope of the short-run aggregate supply curve. What will be an ... (Read 116 times)

MGLQZ · **on:** Jun 29, 2018

Explain how menu costs affect the slope of the short-run aggregate supply curve.

What will be an ideal response?

Question 2

Absolute poverty measures vary from country to country. For example, in 2015, the poverty line in the United States for a family of four with two children

was an annual income of 24,250 but economists often use a much lower threshold income of 1 per day when calculating the rate of poverty in poor countries. How is this absolute poverty measured?
A) by comparing the amount of goods and services that a household's income can purchase in one country to the amount of goods and services that a household's income can purchase in another country of comparable living standard
B) by comparing the amount of goods and services that a household's income can purchase to an objective measure of the amount of income needed to sustain a certain predetermined standard of living
C) by comparing the percentage of households living below the poverty line to the total population
D) by comparing a household's income to the income required to maintain the average standard of living in a society at a particular time

swimkari · **Reply #1 on:** Jun 29, 2018

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