If one perfectly competitive firm is the only one to raise its price above the market price, it will:
A.) Sell some output, but less than previously.
B.) Not sell any output.
C.) Sell more output than previously.
D.) Sell the same amount of output as previously.
B.) Not sell any output.
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A complete accounting of the costs of the tax system would not include _____
a. compliance costs b. legislative costs c. administrative costs d. political costs
In which of the following groups of people in the U.S. would the incidence of poverty be the greatest?
A. Black families with a female head B. All families of seven or more members C. Farmers and farm laborers D. Families whose head is age 65 or over
Why are stock market bubbles costly for the economy?
A. They hurt consumers more than corporations. B. They lead to a misallocation of resources in both the short-term and long-term. C. They lead to a reduction in real investment in both the short-term and long-term. D. They imply that the actual stock price is equal to the fundamental value of the stock.
The "brain drain" problem in the DVCs refers to the fact the best-educated workers:
A. are reluctant to become entrepreneurs. B. are concentrated in rural areas where their skills are underutilized. C. often immigrate to industrialized countries. D. are reluctant to work in the public sector.