The firm in the above figure has excess capacity of ________ meals per day
A) 0
B) between 1 and 10
C) between 11 and 20
D) more than 21 and 30
E) more than 31
C
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Just after a cyclical trough, given the excess capacity in the economy, there should be an unusually ________ rate of closing the gap between desired and actual capital stocks, making net investment respond relatively ________ to rising sales
A) high, strongly B) high, weakly C) low, strongly D) low, weakly
There are no gainers from discrimination
Indicate whether the statement is true or false
A cost of living adjustment (COLA)
a. changes wages by the same percentage every year. b. decreases wages by the inflation rate. c. increases wages by the inflation rate. d. changes prices of consumer goods by the inflation rate.
Rational ignorance is
A) a result of our educational system. B) the curtain, or wall, of knowledge between the persons that are educated and those that are not. C) the curtain behind which people choose to hide to avoid knowledge about poverty and, in general, the unequal distribution of income. D) the curtain separating educated voters from uneducated voters. E) none of the above