In the United States in 2012, the CDC estimated that the total number of people with diabetes (both diagnosed and undiagnosed cases) was highest for people in the age range of ________, and the percentage of people with diabetes was highest for people in the age range of ________.
A) 65 and older; 20-44
B) 65 and older; 65 and older
C) 20-44; 45-64
D) 45-64; 65 and older
D
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In the long run in monopolistic competition, a firm will not produce the output level that minimizes average cost because
a. that output level is less than the profit-maximizing one b. at that output level, MC is greater than MR c. at that output level, P is greater than MR d. demand is horizontal e. that would leave the firm with excess capacity
Suppose that firms in the chemical industry are allowed, free of charge, to dump harmful products into rivers. If this is the case in a competitive market, how will the price and output of the chemical products compare with their values under conditions of ideal economic efficiency?
a. Price is too low; output is too large. b. Price is too high; output is too large. c. Price is too low; output is too small. d. Price is too high; output is too small.
When people speak of the labor force participation rate, they are actually talking about the percentage of
a. people not working but actively seeking work. b. people who are working. c. new entrants into the labor force. d. working-age people who are either working or seeking work.
The slope of the budget line will change
A) when the consumer's income increases. B) when the consumer's taste changes. C) when the total satisfaction changes. D) when the price of one of the products changes.