Which of the following statements is a positive economic statement?
A) The number of families living in poverty in the United States is too high.
B) One in every five children in the United States is living in poverty.
C) Government programs to help the poor are just making problems worse.
D) Increases in poverty rates signify a deterioration of the U.S. economy.
B
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If a firm shuts down in the short run it will
A) break even. B) suffer a loss equal to its fixed costs. C) declare bankruptcy. D) suffer a loss equal to its variable costs.
About one out of every ________ white children under the age of 18 is poor.
Fill in the blank(s) with the appropriate word(s).
On this chapter quiz for this course you can study for up to four hours. If you don't study at all you will get a 70. One hour would give you an 80, the second hour increased your score to 89, the third to 92. If you studied the fourth hour your score would be 87. In which hour did diminishing returns set in?
A. The first because the score was the lowest of the studying options. B. The second because your gain is less than the previous hour. C. The third because your score peaked there. D. The fourth because you had a drop in points in this hour.
In the base year the price index
A. will always equal 100. B. will equal the year. C. equals 100 times the cost of the market basket in the base year. D. will be between 1 and 100.