When the average physical product is falling
A) average variable costs are rising.
B) average fixed costs are rising.
C) total costs are falling.
D) average variable costs are falling.
Answer: A
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An effective program used to fight transient poverty is:
A. health insurance. B. job training. C. unemployment insurance. D. All of these are effective at fighting transient poverty.
Between the 1970's and 1998, immigrants:
A. Were more likely to receive public assistance than people born in the United States B. Were less likely to receive public assistance than people born in the United States C. Were just as likely to receive public assistance as people born in the United States D. Did not qualify for public assistance
We often witness prices of water, gasoline and construction materials surge in a region just before a major storm hits. Some call this "price gouging." In the economic way of thinking, however, those higher prices are caused by
A) an increase in supply and an increase in demand. B) an increase in supply and a decrease in demand. C) a decrease in supply and an increase in demand. D) a decrease in supply and a decrease in demand. E) practices that are not connected to underlying supply and demand conditions.
What would you expect the cross price elasticity of iPods and online music downloads? Explain your answer
What will be an ideal response?