The poverty line is higher than the welfare eligibility income in
A. no states.
B. a few states.
C. most states.
D. all states.
D. all states.
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Holding other factors constant, if 3D-printing technology allows factory workers to manufacture more products per hour, then the real wages of factory workers will ________ and employment of factory workers will ________.
A. increase; increase B. decrease; increase C. increase; decrease D. decrease; not change
The concept of externalities means that subsidizing education can be justified on the grounds that as a student becomes better educated, the student will
A) earn a higher income. B) enhance the lives of people around the student. C) make contributions to the student's alma mater. D) none of the above
Given the scenario described, if the market price of hammers increased from $8 to $11:
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. A. total producer surplus would increase by $3. B. total producer surplus would increase by $6. C. total producer surplus would increase by $9. D. total producer surplus would increase by $4.
Which of the following adjusts to bring aggregate demand and aggregate supply into balance?
a) the price level but not the quantity of output b) the quantity of output but not the price level c) both the price level and the quantity of output d) variables other than the price level and the quantity of output