A consumer's budget constraint for goods X and Y is determined by how much the consumer likes good X relative to good Y
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is an example of a macroeconomic aggregate?
A) Total fixed cost faced by a firm B) Income earned by a household C) Profit earned by an entrepreneur D) The annual inflation rate
Discouraged workers are ________ in the unemployment rate, and this tends to ________ the unemployment rate
A) counted; overstate B) counted; understate C) not counted; overstate D) not counted; understate
Which of the following is not among Porter's competitive forces?
A) changing consumer tastes B) threat of new entrants C) power of buyers D) power of suppliers
Which of the following statements is FALSE regarding the definition of poverty?
A. Real incomes in the United States have been growing at a compounded annual rate of almost 2 percent per capita. B. A threshold income level is used to define poverty. C. Poverty cannot be defined in relative terms. D. Adjustments to the poverty level are made on the basis of changes in the Consumer Price Index.