The concept of utility:
A. cannot be used to explain why people are selfish.
B. cannot be used to explain why people are altruistic.
C. cannot be used to explain why people are charitable.
D. None of these is true.
Answer: D
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An efficiency wage is designed to
A) keep the minimum wage from falling. B) keep the minimum wage from rising. C) to induce more employment. D) decrease the need for workers to search for jobs. E) induce more work effort.
Jenna deposits $1,000 in a bank at an interest rate of 6% compounded annually. What is the future value of the sum deposited after: a) two years. b) four years
What will be an ideal response?
Which of the following is most accurate?
a. African Americans were generally hurt economically relative to whites during WW II. b. African American education rates are now about the same as those of whites. c. The poverty rate for African Americans is about 300% larger than the rate for whites. d. The average household income of African Americans is currently about 90% of whites'.
Along a society's production possibilities frontier,
a. the level of technology is changing b. more of one good can be produced without giving up some of the other good c. resources are not being fully utilized d. available resources are being used efficiently e. there is productive inefficiency in the economy