When marginal cost is greater than average total cost, the
A) marginal cost decreases as output increases.
B) marginal cost does not change as output increases.
C) average total cost increases as output increases.
D) average total cost decreases as output increases.
C
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A new entrant is an individual
A) in the labor force whose employment was involuntarily terminated. B) who used to work full time but left the labor force and has now reentered it looking for a job. C) in the labor force who quits voluntarily. D) who has never held a full-time job lasting two weeks or longer but is now seeking employment.
Which of the following accounts for the largest percentage of federal taxes?
a. gift taxes b. social security tax c. individual income taxes d. corporate income taxes
Of the children who grew up in long-term poverty (those living at least 9 years of their childhood in poverty), what percentage of them are from black families?
A. 50. B. 60. C. 70. D. 80.
Suppose that Spain has a comparative advantage in hats and Portugal has a comparative advantage in doormats. Under a system of free trade, each country specializes and then trades with the other. If the price starts at four hats per doormat, and then increases to five hats per doormat, then:
A. people in Portugal will not want to buy as many hats. B. Spain no longer has a comparative advantage in hats. C. some of the gains from trade shift to Spain. D. some of the gains from trade shift to Portugal.