The Sultan of Brunei, one of the world's richest people, does not face the problem of scarcity
a. True
b. False
B
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The marginal cost curve:
a. Usually declines initially as output increases and then rises with further increases in output b. Is equal to the average variable cost curve c. Usually rises initially as output increases and declines with further increases in output d. Is always constant
On a graph, the private sector's demand for loanable funds curve is
a. upward sloping b. vertical c. horizontal d. downward sloping e. horizontal then upward sloping
The most fundamental proposition of modern portfolio theory is that
A) investment risk is reduced by investing in on security. B) the smaller the standard deviation is, the larger is the risk of a portfolio. C) even though an asset is risky in isolation, when combined with other assets the risk of the portfolio is less, perhaps even zero. D) uncertain outcomes make for risky investments.
Which welfare program allows the working poor to receive income refunds that can be greater than the taxes they paid during the last year?
a. SSI b. TANF c. EITC d. Medicaid