The technology boom that began in the 1990s has helped increase the average real incomes of households in all five U.S. quintiles
Indicate whether the statement is true or false
FALSE
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In general, the structure of a business firm
A) looks like a market. B) looks like a flat network. C) is largely determined by legal considerations. D) seems more like a central planning agency than a market.
The appreciation of the dollar in the late 1990s shifted the U.S. aggregate supply curve outward
a. True b. False Indicate whether the statement is true or false
Government regulators sometimes set the price of a drug at its marginal cost of production without including a fair share of the global joint cost of research and development. Which of the following statements is true about this practice?
a. This behavior is highly unlikely because every country pays its fair share of the cost of research and development. b. Setting drug prices at the marginal cost of production expands the market and guarantees that total drug spending covers all costs, including fixed development costs. c. It assures consumers of the unlimited availability of the drug. d. The described practice is almost impossible because development costs are easily divided among consumers and prices to reflect differences in the relative benefits each receives. e. This practice is a classic example of free riding.
Structural unemployment is unemployment caused by
A. Natural unemployment. B. A mismatch between the skills of job seekers and the requirements of available jobs. C. Individuals who have the skills employers need and who live in the same location as employers but who are changing jobs. D. Insufficient spending in the economy.