Taken as a whole, antipoverty programs may actually put a poor family in a position in which the family becomes worse off if its earnings rise
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose that demand for a product falls, but prices are sticky. What is likely to happen to prices and output in that market, in the short run?
What will be an ideal response?
The figure above shows the costs for the typical grower in the perfectly competitive turnip market. Currently, the price of a ton of turnips is $1,200. The demand for turnips increases permanently
The turnip industry experiences neither external economies nor external diseconomies. In the long run, the price of a ton of turnips ________. A) increases so it is above $1,200 B) is $1,200 and turnip growers will make normal profit C) decreases so it is below $1,200, and turnip growers will make normal profit D) decreases so it is below $1,200 and the turnip growers make an economic profit
The real interest rate equals the nominal interest rate ________ the inflation rate
A) times B) minus C) divided by D) plus
When manufacturers and distributors establish credible commitments to one another, they often employ
a. vertical requirements contracts b. third-party monitoring c. credible threat mechanisms d. non-price tactics