The maximum welfare benefit levels in most states
A. by law are 1.5 times the poverty income threshold.
B. by law must equal the poverty income threshold.
C. are significantly above the poverty income threshold.
D. are significantly below the poverty income threshold.
D. are significantly below the poverty income threshold.
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The demand curve facing the monopolist is
A) the same as the market demand curve. B) more elastic than the market demand curve. C) less elastic than the market demand curve. D) upward sloping.
Economics is different from a "hard" science like physics because: a. economists abstract from reality in creating their theories
b. economics is easier to study than physics. c. economists must explain their theories to policy makers who lack formal mathematical training. d. economists cannot easily control all the variables that might influence human behavior.
Holding all other things constant, when the price level falls, interest rates:
a. rise and firms want to borrow more for new plants and equipment and households want to borrow more for homebuilding. b. rise and firms want to borrow more for new plants and equipment and households want to borrow less for homebuilding. c. falls and firms want to borrow less for new plants and equipment and households want to borrow more for homebuilding. d. falls and firms want to borrow more for new plants and equipment and households want to borrow more for homebuilding.
Countries that start with very little physical capital will get a:
A. similar return from adding a unit of capital than a country that starts at a higher initial level will. B. higher return from adding a unit of capital the more natural resources they possess. C. lower return from adding a unit of capital than a country that starts at a higher initial level will. D. higher return from adding a unit of capital than a country that starts at a higher initial level will.