In the United States, GDP has grown slower than the population since 1870
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Cash payments are generally preferable to in-kind payments when the utility of the transfer recipient is the only criterion because _____
a. it is cheaper to distribute in-kind benefits b. cash is necessary for utility maximization c. recipients know their utility functions better than anyone else d. of diminishing marginal utility
According to the theory of efficiency wages, firms operate more efficiently if wages are above the equilibrium level
a. True b. False Indicate whether the statement is true or false
Rosa deposits $100 in a bank account that pays an annual interest rate of 20 percent. A year later, after Rosa has accumulated $20 in interest, she withdraws her $120 . Rosa's purchasing power
a. did not change if the inflation rate was 20 percent. b. decreased if the inflation rate was -5 percent. c. increased if the inflation rate was 22 percent. d. More than one of the above is correct.
In Figure 12.6, airline Fly Smart is initially a secure monopoly between two cities X and Y at point M, serving 300 passengers per day at the profit maximizing price of $300 per ticket. Suppose that Fly Smart discovers that a second airline is contemplating entering the market. If the minimum market entry quantity is 130 passengers per day, Fly Smart's entry-deterring quantity is:
A. 500 passengers per day. B. 420 passengers per day. C. 370 passengers per day. D. 300 passengers per day.