Which of the following statements is most accurate about ownership of household goods, such as flush toilets, refrigerators, televisions, clothes dryers and automobiles?
a. In 2005, very few "officially poor" Americans owned these goods.
b. The same proportion of Americans who were officially poor owned these goods in 2005 in comparison to 1950 . The proportion of officially poor Americans who owned these goods in 2005 was equal to the proportion of all households who owned these goods in 1950.
c. A higher proportion of "poor" Americans owned these goods in 2005 compared to the proportion of all U.S. households who owned these goods in 1950.
d. The proportion of Americans at the poverty level who owned these goods in 2005 was exactly double the proportion of all households who owned these goods in 1950.
c. A higher proportion of "poor" Americans owned these goods in 2005 compared to the proportion of all U.S. households who owned these goods in 1950.
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An increase in government spending lowers interest rates and increases the rate of investment in new capital
Indicate whether the statement is true or false
The best guess has turnover unemployment about ________ as mismatch unemployment
A) three times as large B) twice as large C) the same size D) two-thirds as large E) half as large
Beverly spends $100 on a teeth whitening kit. After one application, her gums are inflamed and it feels like her mouth is on fire. Beverly is trying to decide whether to apply the treatment again, or throw the kit away. The opportunity cost of a second application is:
A. $100. B. the pain and suffering involved with the second application. C. $100 + the pain and suffering involved with the second application. D. $100 + the pain and suffering involved with the first and second application.
When a negative externality exists in the case of a particular good, and if that is not reflected in the price, _____
a. too little of that good is produced and consumed b. too much of that good is produced and consumed c. all resources are taken away from the production of that good d. the government completely prohibits the consumption of that good e. all resources are allocated to the production of that good