Most of the poverty in this country can be traced to
A. the recession that began in 1990.
B. the heritage of slavery.
C. five decades of social and economic change.
D. the War on Poverty.
C. five decades of social and economic change.
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Based on the table above, equilibrium real GDP is
A) $6 trillion. B) $7 trillion. C) $9 trillion. D) $8 trillion. E) $10 trillion.
The common feature of the Great Depression and the Global Economic Crisis is
A) that they were preceded by an asset price bubble. B) the active role of the Government before the crises. C) the active role of the FED before the crises. D) the immediate and the aggressive response by both government and the FED.
If the customer moves first, with a low price what is the best response of the shopkeeper
a. Accept the low price b. Walk away from the deal c. Throw the haggling customer out of your store d. Shut down your store
Jessica owns a company that makes pre-packaged sandwiches for convenience stores. The market price for a sandwich is $5 and Jessica is a price-taker. Her daily variable cost for making sandwiches is C(Q) = 2.5Q + (Q2/40) and her marginal cost is MC = 2.5 + (Q/20). She is currently producing sandwiches according to the quantity rule. What should Jessica do if she has an avoidable fixed cost of $50 a day?
A. She should keep producing sandwiches because the price is greater than the minimum of average fixed cost. B. She should keep producing sandwiches because she is maximizing profit at the current quantity. C. She should shut down production because the price is greater than the minimum of average cost. D. She should shut down production because the fixed cost can be avoided if she does.