The poverty line:
a. separates those on welfare from those not on welfare.
b. equals three times an economy food budget.
c. equals the median income level.
d. all of these.
b
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________ natural monopolies is a commonly used, potential solution to the problems presented by natural monopolies
A) Breaking up firms that are B) Regulating C) Outlawing price discrimination by D) Refusing to grant patents to E) Giving incentives to firms to become
When the president says that "High inflation rates are a much more serious economic problem than high unemployment rates," it is an example of
A) a normative statement. B) an empirically proven fact. C) a positive statement. D) an irrational argument.
When two goods are unrelated,
A) their cross price elasticity of demand will be infinity. B) their cross price elasticity of demand will be 0. C) their cross price elasticity of demand will be negative. D) their cross price elasticity of demand will be positive.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.