Which statement is false?
A. The problems of the inner city ghettos were just as bad 50 years ago as they are today.
B. There was a huge outward migration of middle- and working-class blacks from the ghettos in the 1970s and early 1980s.
C. About 2 out of 5 poor blacks live in areas of extreme poverty.
D. None of these statements are false.
A. The problems of the inner city ghettos were just as bad 50 years ago as they are today.
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In general, the quantity that maximizes revenue for the monopolist
A) is greater than the quantity that maximizes profit. B) is less than the quantity that maximizes profit. C) is the same as the quantity that maximizes profit. D) is illegal according to anti-trust statutes.
Which of the following is considered an advantage of a sole proprietorship?
A) easy to raise large sums of capital B) limited liability for owner C) profit taxed only once D) permits effective specialization
In consumer equilibrium: a. the average utility from each dollar spent is the same
b. total utility cannot be increased by reallocating spending among the goods consumed. c. total utility obtained from the consumption of each product is at a maximum. d. the marginal utility from the last unit of each good consumed is the same.
_______ is the percentage change in the quantity of good A that is demanded as a result of a percentage change in the price of good B.
a. Elasticity of savings b. Cross-price elasticity of demand c. Income elasticity of demand d. Wage elasticity of labor supply