It is possible for the poverty rate to decline even if the number of poor people increases
Indicate whether the statement is true or false
T
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The marginal product of labor equals the change in ________ from a one-unit increase in the quantity of labor
A) total product B) average product C) total cost D) the slope of the average product curve E) the wage rate
Which of the five goods, A to E, whose price elasticities of demand are shown in the choices below, is the best candidate to tax if the goal is to acquire maximum tax revenue?
a. good A, with price elasticity of 0.90 b. good B, with price elasticity of 3.40 c. good C, with price elasticity of 1.25 d. good D, with price elasticity of 0.50 e. good E, with price elasticity of 1.00
A mutual fund is a financial intermediary that pools funds from many investors, each of which may have only a relatively small amount of money available to invest, and divides it among many different firms to create a diversified portfolio
a. True b. False Indicate whether the statement is true or false
For government, most market activity can be explained by the goal of:
A. Welfare maximization. B. Social responsibility. C. Utility maximization. D. Charitable responsibility.