In 2014, the ethnic group experiencing the highest poverty rate was
A. black, non-Hispanic.
B. Hispanic.
C. another race.
D. white, non-Hispanic.
Answer: A
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If the current margin is greater than the desired margin, the firm should
a. Increase production b. Decrease production c. Not change production level d. Production ceases
An oligopolist cannot use the MR = MC rule to find its equilibrium output level because
a. oligopolists do not face stable demand curves for their output b. oligopolists do not try to maximize profits in the long run c. it is too difficult to estimate marginal cost d. the rule applies only in perfect competition e. the minimum efficient scale exceeds total quantity demanded
Investing in additional education and _________ are more likely to result in accumulating sufficient personal wealth to be able to retire relatively comfortably, but these require effort, patience, and sacrifice.
a. accurately predicting the market b. investing in gold and other precious metals c. investing in random walk bonds d. starting to save early in life
One theory that predicts sustained wage and rent differentials is based on the idea that your accumulation of human capital raises the productivity of the other workers and the physical capital in your locale. In this situation, human capital accumulation creates
a. a signaling equilibrium. b. external benefits. c. compensating differentials. d. intertemporal substitutions.