Fuchs has suggested defining poverty as income below one-half of the national median
Indicate whether the statement is true or false
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Which of the following is not a condition required for a monopolist to price discriminate?
a. the demand curve facing the firm must be downward-sloping b. the firm must exhibit strong economies of scale c. there must be different groups of buyers with different price elasticities of demand d. the firm must be able to prevent reselling of the product e. the firm must have some market power
People are unlikely to choose to pay extra for a low-emissions automobile, because they:
a. do not fully understand the environmental benefits of lower emissions. b. are better off "free-riding" on others' attempts to reduce emissions. c. would have to sacrifice fuel efficiency and automotive performance. d. cannot afford the extra expense of "green" technology.
When we consider solving a free rider problem through changing social norms, it is helpful to remember:
A. all costs aren't financial. B. social disapproval can be considered a cost. C. conflict with those in your community can be considered a cost. D. All of these statements are true.
The structural deficit is defined as
a. that part of the deficit that is so hard to remove that it is never reduced. b. the portion of the budget deficit that occurs because the economy is not at full employment. c. the hypothetical deficit the economy would have under current fiscal policies if the economy were operating near full employment. d. the actual budget deficit that exists in the economy.