Economists generally agree that in reducing poverty, policies should be sought that do the
A. greatest good for total production.
B. least harm to work incentives.
C. most good for the poor.
D. least harm to equality of income.
Answer: B
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In the loanable funds market, as the interest rate rises the ________ and the ________
A) quantity of loanable funds supplied increases; quantity of loanable funds demanded decreases B) quantity of loanable funds supplied decreases; quantity of loanable funds demanded increases C) supply of loanable funds increases; demand for loanable funds decreases D) supply of loanable funds decreases; demand for loanable funds increases
The following table depicts the production relationship between units of labor and output of pepper on Pietrov’s Pepper Farm. Labor Peppers Labor Peppers 1 10 6 75 2 25 7 77 3 45 8 78 4 60 9 77 5 70 10 75 Graphically show the three zones of production corresponding to increasing, decreasing, and negative marginal product, noting the point of diminishing returns.
What will be an ideal response?
Which of the following is true in the circular flow diagram?
a. Household savings flow into the factor market, and investment flows to foreign economies. b. Household savings flow into financial markets, and investment flows back to households. c. Household savings flow into financial markets, and investment flows into product markets. d. Household savings flow into foreign economies, and investment flows into financial markets.
When marginal cost is between average variable cost and average total cost, marginal cost is increasing.
Answer the following statement true (T) or false (F)