Which would be the most accurate statement?
A. Liberals all agree that if we could provide a job for every American who needs one, we could end nearly all poverty within a generation.
B. Barbara Ehrenreich and Frances Fox Piven point out that an increasing number of jobs do not pay enough to subsist on.
C. Lisabeth and Daniel Schorr believe that poor teenage girls allow themselves to get pregnant so that they could go on welfare.
D. Charles Murray faults our economic system for not providing enough well-paying jobs, which, in turn, has led to widespread poverty.
B. Barbara Ehrenreich and Frances Fox Piven point out that an increasing number of jobs do not pay enough to subsist on.
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All else equal, a decrease in the level of imports allowed into the United States ________ the demand for goods and service produced in the United States
A) does not affect B) decreases C) increases D) increases or decreases
As a result of the superb economics essay that you wrote during this quarter, you won the Adam Smith prize of $100. The receipt of these funds would be an example of
A) the substitution effect being stronger than the income effect. B) the income effect being stronger than the substitution effect. C) a pure income effect. D) a pure substitution effect.
Refer to the graph below representing the market demand curve for a monopolist’s output. Which of the following quantities shown on the graph should the monopolist produce if it wishes to maximize its total revenue?
a. 900
b. 1,000
c. 1,100
d. Any of the above because total revenue does not change with a change in production.
Suppose you are on a committee seeking to increase revenue from your city's bus system. If demand is _______, you would recommend raising the fare
a. perfectly elastic b. elastic c. unitary elastic d. inelastic