A general rule of political economy in a democracy is that when small groups are helped by a government action and large groups are hurt by that action by an equal and offsetting amount, policies tend to reflect:
A. the small group's interest.
B. neither group's interest over the other.
C. the large group's interest.
D. the interest of a free market.
Answer: A
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Andrew just lost his job as a corkscrew operator since his company has found a machine to perform his work tasks. Andrew did not have the skills needed to operate the machine. Andrew has searched for a new job for 6 months and continues to search
Therefore, Andrew is considered to be A) frictionally unemployed. B) a discouraged worker. C) cyclically unemployed. D) structurally unemployed.
Prices, on average, increased in the food market; the demand for food had simply grown faster than supply from the end of the Civil War in 1865 to the beginning of World War I in 1913
Indicate whether the statement is true or false
The market supply schedule reflects the total quantity: a. supplied at market price
b. supplied by all of the producers at the equilibrium price. c. supplied at each price by all of the producers. d. the vertical summation of the supply curves for individual firms.
This profit-maximizing firm charges a price of ___________.
A. $16.75
B. $20.00
C. $22.00
D. $24.00