A key to creating effective policy to fight poverty is to understand:
A. why people are poor.
B. the correlation between education and income.
C. the correlation between income and geographic location.
D. the unintended consequences of reductions in the incentive to work.
A. why people are poor.
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If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would increase
a. True b. False Indicate whether the statement is true or false
Because of the rise of global competition and free trade,
a. antitrust policy may be less necessary than previously thought. b. U.S. industrial concentration poses more of a threat to consumers. c. U.S. markets are becoming less competitive. d. U.S. manufacturers are seeking fewer trade barriers.
Refer to Figure 6.4. If the price of computers is $1,000, then consumer surplus is given by the area represented by:
A. c + d.
B. b.
C. b + c.
D. a + b + e.
If households purchase $60,000 worth of consumer goods and firms produce $50,000 worth of consumer goods, then
A) inventory changes are -$10,000. B) inventory changes are +$10,000. C) new capital goods expenditures (by firms) are $10,000. D) consumer goods expenditures are $10,000.