The idea that people will not consciously make decisions that make them worse off is known as
A) rationality assumption.
B) the decision duality.
C) Adam Smith's doctrine.
D) incentive assumption.
A
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A curve that shows the various combinations of goods and services that are possible for an economy to produce with a given amount of resources is referred to as a(n):
A) supply curve. B) isocost curve. C) budget constraint. D) production possibilities curve.
The BLS count Jody as being unemployed if she _______
A. had a job last month but not this month B. doesn't have a job because the U.S. factory where she worked cannot compete with cheap Chinese imports C. wants a job and looked for a job last year but has now stopped looking D. wants a job and is willing to take a job but after searching last week cannot find a job
A cartel is a group of sellers of a single product who have joined together in order to enjoy the advantages of perfect competition.
Answer the following statement true (T) or false (F)
In the U.S. the percentage of the population that directly encounters poverty is exceedingly high
a. True b. False Indicate whether the statement is true or false