Relative to the white median family income, since 1980 African-American median family income has ________ and Hispanic median family income has __________
a. increased; also increased
b. fallen; also fallen
c. increased; remained about the same
d. fallen; increased
c. risen; remained about the same
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In the long run, economic profits are:
a. possible both for a monopolist and for a perfectly competitive firm. b. possible for a monopolist but not for a perfectly competitive firm. c. possible for a perfectly competitive firms but not for a monopolist. d. impossible for both a monopolist and for a perfectly competitive firm.
Suppose a U.S. importer purchases "Mexican Oaxaca" cheese for $500 . If the present exchange rate is Mexican peso (MXP) 10 per U.S. dollar, and the MXP appreciates 10 percent against the U.S. dollar between the date of purchase and the date of payment, then the peso value of the invoice when payment is due is:
a. MXP 500. b. MXP 550. c. MXP 4,500. d. MXP 5,500. e. MXP 4,450.
The beneficiaries of the minimum wage are confined to those in poverty
a. True b. False
The theory of countervailing power provides support for a more laissez-faire approach to government regulation
Indicate whether the statement is true or false