The percentage of families with incomes below the poverty line: a. is defined as the 10 percent of u. s.households with the lowest incomes. b. is known as the poverty rate. c. is known as the unemployment rate. d. rises as the general income level rises.

The answer is: A) Is defined as the 10 percent of U.S. households with the lowest incomes.

Explanation:

The poverty line (or poverty threshold) classifies people into poor or non-poor. If someone earns an income below that limit (poverty line) they are classified as poor. Usually this line or threshold is established as the smallest amount of money a person needs to live on.

So if a person is classified as poor, since they shouldn't be able to live solely on their income, they can request the assistance of government programs (e.g. Medicaid, food stamps).

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.