Most economists who have studied it believe that the Great Depression was caused by:
A. poor economic policymaking.
B. illegal immigration.
C. the stock market crash.
D. a sharp decline in average labor productivity.
Answer: A
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Imagine that you are an entrepreneur, making designer t-shirts in your garage. Your total cost (in dollars) is given by the equation TC = 300 + 10Q, where Q represents the number of t-shirts you make. Your fixed cost is $________, and your marginal cost is $________.
A. 300/Q; 30 B. 300; 10Q C. 300; 10 D. 300/Q; 10
The benefit that Joan gets from eating cherries is an example of
A) when the external benefit equals the private benefit. B) a private benefit. C) an external benefit. D) an external cost. E) the marginal social cost of eating cherries.
The graph below represents the market for alfalfa. The market price is $7.00 per bushel. Identify the areas representing consumer surplus, producer surplus, and economic surplus
What will be an ideal response?
Which of the following is considered a discouraged worker?
A. A professional football player who is forced to play a new position. B. A professional football coach coming off a 0 win season. C. A professional football player who gets cut after the preseason schedule has been completed. D. A retired professional football player who tried to make a comeback but found no one was willing to give him a tryout, so he no longer looks for a job.