Unemployment, especially in the long term, tends to increase the faith people have in social institutions such as government
a. True
b. False
Indicate whether the statement is true or false
False
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An individual’s demand schedule
A. provides information about what quantity a consumer is willing and able to buy at each price. B. tells a buyer how many other buyers will try to purchase an item. C. is a schedule that regulates monthly sales of scarce goods and services. D. is of no use without its accompanying supply schedule.
It is possible for the United States to compete against cheap foreign labor because expensive domestic workers
A) pay U.S. taxes. B) receive subsidies. C) are more productive. D) belong to unions.
Suppose Hanna spends her entire budget buying bagels and cups of coffee each day. Also, suppose the marginal utility of her last bagel is 100 and the marginal utility of her last cup of coffee is 200
If the price of a bagel is $4 and the price of a cup of coffee is $2, then A) Hanna needs to decrease her consumption of bagels to maximize her utility. B) Hanna needs to increase her consumption of bagels to maximize her utility. C) Hanna should buy half as many bagels as coffee in order to maximize her utility. D) bagels must provide more total utility than coffee.
The goal of Medicare is to
A) help the poor and indigent pay their hospital bills. B) prevent poverty in urban cities. C) subsidize medical expenses for the elderly. D) subsidize costs incurred by doctors.