In 2006, the Base Price of a Hummer SUV Was

question 370

Multiple Choice

In 2006, the base price of a Hummer SUV was about $30,000. By 2008 as gasoline prices increased,

• A) the demand curve for Hummers shifted leftward and Hummer prices decreased.
• B) the demand curve for Hummers shifted rightward and Hummer prices increased.
• C) there was a movement down along the Hummer demand curve.
• D) there was a movement up along the Hummer supply curve.

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Welfare Rolls

Lists or records of individuals or families receiving government assistance or benefits, typically for those who are unemployed or have low income.

Payroll Tax

Taxes that are withheld or levied on an employee's salary by an employer, to be paid directly to the government, typically contributing to social security and healthcare.

Income Tax

A tax levied by governments on individuals or entities based on their income or profit earned.

Poverty Line

The minimum level of income deemed adequate in a particular country to live on.