Majority-rule voting leads to logrolling.
Answer the following statement true (T) or false (F)
True
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The demand for labor increases (that is, the demand for labor curve shifts rightward) if the
A) wage rate increases. B) wage rate decreases. C) price of the firm's output rises. D) price of the firm's output falls.
The official poverty threshold line is adjusted annually for
a. income taxes. b. inflation. c. average household size. d. average family size.
In the long run in monopolistic competition,
a. economic profits are zero. b. P = MC. c. P = minimum ATC. d. firms have an incentive to leave. e. the demand curve is tangent to the MC curve.
Which of the following would be most likely to improve the standard of living of a less-developed country?
a. development of strong labor unions. b. more foreign investment, attracted by the expectation of economic and political stability. c. adoption of trade barriers (higher tariffs and quotas). d. widespread use of price controls to allocate goods and resources.