According to the U. S. Census Bureau, the poverty rate in Texas for 2020 was 17. 4%, which is slightly higher than the national poverty rate of 11. 7%. Texas has the highest percentage of people living in poverty among the most populous U.
S. states, with 15. 6% of the population or 4. 6 million Texans classified as living in poverty. Texas also has the highest rate of uninsured people in the country, with over 20% of Texans lacking health insurance coverage.
These factors are reflected in the state’s high poverty rate, which is made worse by the fact that Texas has one of the nation’s lowest minimum wage rates. Nevertheless, Texas has seen a reduction in its poverty rate since 2017 when it stood at 18.
Which of the following is not true about standardized currency?
Standardized currency is not a requirement for economic growth or development. In fact, economic growth and development can occur in an economy that does not use a standardized currency. For example, some economies rely on a barter system, with goods and services being exchanged directly for each other.
In some cases, this system functions better than a standardized currency. This is because it may have fewer transaction costs, and can also be more stable since it does not rely on any one particular currency.
In addition, standardized currency relies on centralization and control, which can limit economic freedom and create more inefficiencies in an economy.
Which one of the following is not one of the main characteristics of money?
The ability to increase in value is not one of the main characteristics of money. Money does not normally increase in value, but may decrease over time depending on the economic conditions and inflation rate.
The main characteristics of money are: it is a medium of exchange, a unit of account, store of value, and portable.
What is not a characteristic of money quizlet?
One thing that is not a characteristic of money, according to quizlet, is that it can never be exchanged for goods and services. Money is used to facilitate the exchange of goods and services and to store value.
It may take various forms, such as coins, paper currency, and electronic funds, but the purpose of money is to enable economic transactions. Money also does not possess intrinsic value, as it is only worth what people will exchange for it, and its value is determined by supply and demand.
Which of the following questions describes what Filburn was asking the Supreme Court to consider?
Filburn was asking the Supreme Court to consider whether or not the federal government could limit his agricultural activity on the basis that he was “growing wheat for home consumption. ” The case in question focused on the scope of authority of the federal government under the Interstate Commerce clause of the Constitution, as well as the ability of the federal government to regulate activities that may directly or indirectly participate in the “stream of commerce.
” In essence, Filburn argued that growing wheat for personal consumption should not be subject to the aggregation of economic activities the federal government was attempting to regulate and thus the Agricultural Adjustment Act of 1938, which sought to limit wheat production, should not apply to him.
The case raised vital questions of federalism and the ability of the federal government to regulate activities within the states. The decision was ultimately an important milestone in federalism jurisprudence, and established that the extent to which federal legislation can reach activities within the scope of commerce, as well as in general, extending the power of the federal government to regulate activity in pursuit of a larger collective goal.
Which economic theory believes that government intervention is necessary to prevent workers from being taken advantage of?
The economic theory that believes government intervention is necessary to prevent workers from being taken advantage of is known as Keynesian economics. The primary goal of Keynesian economics is to promote economic growth and full employment by controlling aggregate demand.
Keynesian economics suggests that taxes and government spending should be used as tools for offsetting cyclical swings in the business cycle and other economic disruptions. Furthermore, it also believes that government intervention is necessary to ensure that businesses and sectors don’t take advantage of workers by exploiting their labor and not providing them with a fair wage or job benefits.
In this way, Keynesian economics advocates for a mix of fiscal and monetary policies to protect workers and to promote long-term economic stability.
What is the term for the idea that some goods will be overused and depleted if not regulated?
The term for the idea that some goods will be overused and depleted if not regulated is the concept of the Tragedy of the Commons. The tragedy of the commons is an economic concept that originated in the field of ecology and was first expressed in an influential 1968 paper by biologist Garret Hardin.
It is the idea that resources shared by many individuals, such as grazing land, tend to be overused when people don’t have incentives to moderate their use and overexploitation can occur. This can lead to degradation and depletion of resources, causing the whole system to suffer.
Therefore, it is often argued that the tragedy of the commons helps to explain why people need regulations, subsidies and incentives to conserve resources and prevent them from being depleted.
Which of the following interest groups provides information to legislators that advocates for reduced access to abortion?
One of the interest groups that advocates for reduced access to abortion is the National Right to Life Committee (NRLC). This organization has been operational since 1973 and is the oldest and largest pro-life organization in the United States.
It seeks to protect the life and well-being of every human being from fertilization through natural death. The NRLC works closely with legislators and members of Congress by providing them with updates on proposed legislation which seeks to restrict access to abortion and to ensure the continued protection of unborn children.
Additionally, the NRLC provides educational materials and updates on medical advancements that support their mission of helping to save the lives of unborn children. Finally, they participate in rallies and protests, as well as running a variety of television, radio, and newspaper ads.
All of these activities help to inform legislators of the cause and to advocate for reduced access to abortion.
What is a standardized approach quizlet?
A standardized approach quizlet is an online learning tool that provides a standardized, repeatable method for learning and testing a variety of topics. It provides users with a platform to create their own online tests and activities in order to practice and master a certain topic.
Examples of topics that a standardized approach quizlet can be used to learn and test on include math and science concepts. The main benefits of a standardized approach quizlet are that it is cost effective, provides a consistent approach for studying a topic, and does not require users to invest any money in order to use it.
Additionally, it is an efficient way for students to practice and master a certain subject. It also allows teachers to track their students’ progress and to make sure that they are performing well.
Who decides which currency each country in the world uses?
The decision of which currency each country in the world uses largely depends on the form of government and economy of the nation in question. In most cases, states with a centralised government will adopt a currency that is specific to that country, like the US Dollar or the British Pound.
On the other hand, countries with a decentralised government often benefit from having a shared currency, like in the Eurozone where 19 of the 28 countries have adopted the Euro.
In addition to the form of government, the decision of what currency a given country uses is also heavily influenced by international agreements and trade treaties between nations. Currency regulation is an important aspect of global trade, which makes it essential that countries are willing to work together when deciding which currencies to use.
This is why some regions, like Somalia, have formed economic unions so that their members gain the economic benefits of sharing a single currency.
Overall, the decision of which currency to use depends on the economic and political context of the country in question. However, in most cases the decision to use a particular currency is driven by the need for international economic cooperation between nations.
Which factor plays a role in establishing the value of a country’s currency?
The value of a country’s currency is determined by several factors, including its economic health, political stability, and the level of demand for its currency on the foreign exchange market.
Economic health is a key factor in establishing the value of a country’s currency. In general, countries with strong and growing economies tend to have currencies that appreciate due to higher demand.
Factors such as inflation and unemployment levels, public debt, and the balance of imports and exports all influence the strength of a country’s currency.
Political stability plays an important role in determining the value of a country’s currency as well. Uncertainty about a country’s future, driven by factors like political unrest, civil strife, or economic sanctions, can drive the value of its currency down.
On the other hand, a stable government with strong economic and fiscal policies can create confidence in a country’s currency.
Finally, the level of demand for a country’s currency on the foreign exchange market plays an important role in establishing its value. Currencies are traded on a daily basis as speculators buy and sell them, looking to make a profit.
A currency with high demand and a low supply will generally appreciate against other currencies. Conversely, if there is a decrease in demand for a currency, its value may weaken.
Which of the following was a disadvantage of using gold as a medium of exchange in international trade?
Gold as a medium of exchange in international trade has some disadvantages, particularly compared to the use of paper money or other more advanced financial instruments. The most significant disadvantage is that gold is a highly valuable and rare resource, meaning that it is difficult and costly to transport large amounts of it across international borders.
This effectively limits the amount of gold that is available for use in international transactions, making it impractical and prohibitively expensive to use solely as a medium of exchange in most cases.
Additionally, gold is subject to price fluctuations in a way that other forms of currency are not, making it difficult to accurately measure the value of an international transaction. This unpredictability and volatility meant that, for many traders, exchanging for gold was risky and could lead to large financial losses if prices at the time of exchange differed significantly from those when the agreement was first made.
Finally, gold does not generate any interest or other form of return, meaning that it does not act as an investment in itself, making it a poor choice for hedging against future market movements. This lack of interest income also makes gold a poor choice for long-term international transactions.
When a currency is determined by supply and demand for a currency relative to other currencies?
When a currency is determined by supply and demand, it means that the value of a currency relative to other currencies is based on the balance between how much currency is available in the market and how much people demand the currency for their needs.
The value of a currency compared to another currency is known as its exchange rate. When a currency is in high demand, relative to the amount of currency in circulation, its exchange rate will increase.
Conversely, when a currency is not in high demand, relative to the amount of currency in circulation, its exchange rate will decrease. Supply and demand is one of the most influential forces on pricing of currencies, and it has a big impact on how people manage and plan their finances.
As the balance of supply and demand is constantly changing, exchange rates can fluctuate quickly, and it is important for people to keep up to date on any changes that could affect their money.