Of the collection of supply and demand diagrams in Figure 2.2, which one(s) could show the result of a decrease in income?
A. Figure 1
B. Figure 2
C. Figure 3
D. Figures 1 and 2
Answer: D
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The BLS monthly household survey involves about __________ households in the United States
A) 6,000 B) 60,000 C) 600,000 D) 6,000,000
One desirable aspect of having multiple levels of government is that numerous small governments _____
a. leads to a prisoners' dilemma b. allows for the possibility of intergovernmental competition c. affect the optimal size of the sharing group d. demonstrate how effective the federal government is at what it does
The term “satisficing” for decision-making behavior by many firms was coined by
A. Milton Friedman. B. Adam Smith. C. Herbert Simon. D. Alan Greenspan.
Winner-take-all refers to
a. top performers in a labor market receiving much more than those who are just slightly less productive b. computing and technology companies driving their competitors out of the market c. rich households paying less in taxes now than they did 30 years ago d. a negative income tax system that allows individuals to become superstars e. the Lorenz curve shifting closer to the diagonal as the rich become richer