"All else constant, consumers will purchase more of a good as the price falls." This statement reflects the behavior underlying:
A. a change in demand.
B. the demand curve.
C. the supply curve.
D. a change in supply.
Answer: B
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Which of the following is consistent with secular deflation?
A) a persistently decreasing price level caused by money being withdrawn from the economy B) a persistently increasing price level caused by several periods of economic growth with decreasing AD C) a persistently decreasing price level caused by increases in government expenditures D) a persistently decreasing price level caused by several periods of economic growth with stable AD
Which of these conclusions does the graph U.S. Unemployment by Race or Ethnic Group support?
a. Businesses tend to give jobs to white workers before they will hire black or Hispanic
workers.
b. The unemployment rate for Hispanic workers is determined by whether employers
perceive them as white or black.
c. White workers have a lower unemployment rate because they make up less of the
U.S. workforce than black and Hispanic workers.
d. White, black, and Hispanic workers all constitute roughly the same proportion of the U.S. workforce.
The more certain private property rights are
A. the less people need to invest in education or human capital development. B. the less entrepreneurship there will be. C. the more an economy must grow to maintain a certain living standard. D. the more capital accumulation there will be.
Pick the true statement
A) It is possible for economic profit to be greater than accounting profit. B) Accounting profit includes both the implicit and explicit costs of production. C) Accounting profit is always greater than economic profit. D) None of the above is a true statement.