According to official U.S. statistics, the U.S. poverty rate has been approximately ________ percent for the last 40 years.
A. 12 to 20
B. 4 to 13
C. 11 to 15
D. 5 to 18
Answer: C
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The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P. Suppose the economy is closed. The equilibrium price of a car is ________ and equilibrium quantity is____.
A. $8,000; 12,000 B. $6,000; 14,000 C. $12,000; 8,000 D. $10,000; 10,000
Pamela Michelle Scott, a low income single mom, had just finished her monthly shopping to purchase 30 days' worth of meat from Hollins Market
She's reared five healthy children and said that she made good use of the free health clinics and food stamps. Pamela benefits from free health clinics which are ________ and food stamps which is a ________. A) Social Security programs; subsidized service B) unemployment compensation programs; Social Security program C) subsidized services; welfare program D) welfare programs; unemployment compensation program
Which of the following is NOT a reason people tolerate tariffs and quotas?
A) Ignorance B) Their personal jobs depend on tariffs and quotas. C) Costs may be hidden and hard to quantify. D) Costs of the policy are spread over a large number of people. E) The marginal expenses to fight the protection outweigh the personal marginal costs of the protection.
Table 3-25 - The opportunity cost of 1 mixer for Miguel is.
a. 1/2 toaster
b. 1/2 hour of labor
c. 2 toasters
d. 8 hours of labor