Which of the following is true about poor populations?
A. The poor are more likely to have graduated from high school.
B. There are fewer poor whites than poor blacks.
C. The poor are disproportionately black and Hispanic.
D. The poor are less likely to be children than the elderly.
Answer: C
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A key element of real business cycle theory is that
a. labor supply is not responsive to changes in real wages. b. labor supply is highly elastic. c. as the wage increases, workers are richer and work less. d. none of the above.
If the Federal Reserve purchases $1 million in government securities in the open market, with a 25 percent required reserve ratio on deposits, the maximum increase in deposits would be
a. $4 million. b. $10 million. c. $25 million. d. -$4 million. e. none of the above
The above figure shows the payoff to two airlines, A and B, of serving a particular route
If the two airlines must decide simultaneously, and the government imposes a $20 per firm tax on firms that service this route, which of the following maximizes the firms' joint profits? A) Neither firm services the route. B) Firm A offers firm B $20 to not enter. C) Both firms will service this route. D) Firm B offers firm A $30 to not enter.
A monopolist will maximize profits by producing a quantity specified by setting marginal revenue equal to marginal cost.
Answer the following statement true (T) or false (F)