By looking at the graph showing the poverty rate from 1959 to 2016, you can see that during a recession, poverty rates usually ______.
a. increase
b. decrease
c. stabilize
d. are unmeasurable
a. increase
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Assuming the market of soda has a regular downward sloping demand curve and upward sloping supply curve, the tax will ________ the price paid by buyers and ________ the price received by sellers
A) decrease; increase B) decrease; decrease C) increase; increase D) increase; decrease
Refer to Table 17-1. Suppose the output price is $3. If the firm represented in the table is maximizing its profit by hiring six workers, what is the wage rate?
A) $120 B) $65 C) $40 D) There is insufficient information to answer the question.
An example of an implicit cost is
a. rent. b. taxes. c. wages. d. forgone interest when investing one’s savings in one’s own business.
Compared to a system of fixed exchange rates, currency unions are beneficial because they
A) allow exchange rates to float. B) allow every country to have an independent monetary policy. C) reduce the costs of trading goods and assets. D) restrict what countries can do with fiscal policy.