When consumers are exposed to additional choices that result from the introduction of a new product,
a. their satisfaction is likely to be lowered as a result of their having to make additional choices.
b. a product-variety externality is said to occur.
c. an advertising externality is said to occur.
d. consumers are likely to experience negative consumption externalities.
b
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If an economy is operating at a point inside the production possibilities frontier, then
A) society's resources are being inefficiently utilized. B) the PPF curve will shift inward. C) society's resources are being used to produce too many consumer goods. D) economic policy must retard further growth of the economy.
Assume the economy is operating at a real GDP above full-employment real GDP. Keynesian economists would prescribe which of the following policies?
A. nonintervention B. fixed rule C. contractionary D. expansionary
The population of individuals at least 16 years of age can be broken into 3 groups. They are
A. those employed full-time, those employed only part-time, and the unemployed. B. the unemployed, discouraged workers, and retirees. C. those working in the for-profit sector, those working in the nonprofit sector, and individuals who are unemployed. D. none of these.
Compared to the poverty rate for blacks, the poverty rate for whites is a fraction of less than ______.
Fill in the blank(s) with the appropriate word(s).