Perfectly competitive markets are not the best at producing the goods that are desired by consumers.
Answer the following statement true (T) or false (F)
False
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The ________ demonstrates the roles played by households and firms in the market system
A) theory of comparative advantage B) business cycle C) circular flow model D) production possibilities frontier
What is the poverty rate?
A) the percentage of households who qualify for government assistance to meet the minimal requirement for adequate nutrition B) the percentage of working adults whose annual income is sufficiently low as to be are exempt from paying income taxes C) the rate at which the number of people relative to the size of the population fall below the poverty line D) the percentage of the population earning an annual income below the poverty line, according to the federal government's definition
You put your product on 20% off sale market A but leave it unchanged in market B. Sales in A increase from 840 to 1040 units per week while sales in B rise from 770 to 830 . The Difference-in-difference estimate of the effect of the price change is:
a. 80 units b. 100 units c. 120 units d. 130 units
How did people like Mark Zuckerberg of Facebook and the late Steve Jobs of Apple become so rich?
a. mostly by stealing from those who were less fortunate b. by acquiring more years of schooling than almost anyone else c. by obtaining large subsidies from powerful politicians d. by providing highly valued goods and services to consumers at attractive prices