In which decade was the poverty rate steady?
a. 1960s
b. 1970s
c. 1990s
d. 2000s
b. 1970s
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The deadweight loss a tax causes depends on all of the following except:
A. how responsive buyers and sellers are to a price change. B. the price elasticity of supply. C. the price elasticity of demand. D. who the tax is imposed upon.
In the short run, if a firm's total variable cost curve lies everywhere above its total revenue curve, the firm should produce
a. the output level that minimizes average total cost b. the output level that minimizes average variable cost c. the output level that minimizes the distance between marginal cost and marginal revenue d. the output level that maximizes the distance between marginal cost and marginal revenue e. no output
Which of the following is most likely to be the subject of informational advertising?
A. a search good B. an experience good C. an inexperience good D. a credible good
Initially the number of airline firms fell in response to deregulation.
Answer the following statement true (T) or false (F)