A price increase will always increase a firm's revenue
a. True
b. False
Indicate whether the statement is true or false
False
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In the circular flow diagram, aggregate expenditure includes
A) consumption expenditure, saving, investment and government expenditure. B) consumption expenditure, saving, investment and net exports. C) consumption expenditure, investment, government expenditure and net exports. D) consumption expenditure, saving, government expenditure and net exports.
Rent seeking refers to
a. what landlords do b. looking for an apartment c. capturing the economic results of government-created scarcity d. all profit-making activity e. all of the above
Influence cost is a type of _____ incurred while filling positions that have similar responsibilities but carry different pay
a. deadweight loss b. opportunity cost c. externality d. social cost
Based on the table showing poverty for different groups, which racial group has the highest poverty rate?
a. Asians
b. Blacks
c. Hispanics
d. Whites