The highest fifth of all families receive approximately ________ of the distribution of annual money income among families
a. 5 percent
b. 10 percent
c. 25 percent
d. 50 percent
d
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If the marginal cost for Big Ed's Used Car Emporium to advertise one additional day each week on a local TV station is $1,500, then Big Ed's should advertize that additional day
A) as long as the weekly marginal cost does not rise. B) only if the marginal benefit the company receives each week is greater than $1,500 plus an acceptable profit margin. C) as long as the marginal benefit the company receives each week is just equal to or greater than $1,500. D) until the marginal benefit the company receives reaches zero.
Because employment actually continued to fall at the beginning of the recoveries that began in 1991, 2001, and 2009, these recoveries have come to be known as
A) pseudo recoveries. B) non-recoveries. C) double-dip recoveries. D) jobless recoveries.
Which of the following goods are available at highly economical prices because the use of mass production techniques substantially reduces their per unit production costs?
a. automobiles b. DVD players c. microwave ovens d. all of the above
Total consumer surplus in a market is measured as the
A) area bounded above the market clearing price and beneath the market demand curve. B) area bounded below the market clearing price and above the market supply curve. C) vertical distance from the horizontal (quantity) axis to the market clearing price. D) horizontal distance from the vertical (price) axis to the equilibrium quantity.