The United States has had:
A. high relative mobility in the last century, and lower absolute mobility.
B. low relative mobility in the last century, and even lower absolute mobility.
C. high absolute mobility in the last century, and lower relative mobility.
D. low absolute mobility in the last century, but higher relative mobility.
Answer: C
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The demand curve for the product of a monopolistically competitive firm slopes downward because
A) products are perceived by consumers as different. B) products are homogeneous. C) people only care about price when they buy a good. D) the firm's goal is to maximize profits.
The phone network says it loses money on local calls, because the $20 average monthly bill does not cover its average cost of $30 . It estimates that $18 of costs are directly related to local service, with $12 the share from overall expenses (overhead). Why would the phone network be willing to operate if it is losing money?
A burger bought by Joey from a restaurant is non-rival in consumption
a. True b. False Indicate whether the statement is true or false
The long-run effect of an increase in the money supply is to
A. increase the price level. B. decrease the interest rate. C. decrease the price level. D. increase the interest rate.