Between 2006 and 2008 the poverty rate
A. rose by about one percent.
B. fell by about one percent.
C. rose by around three percent.
D. fell by about three percent.
A. rose by about one percent.
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In deriving the demand schedule for a good, economists assume that
A) consumers have equal incomes to allocate among goods. B) a consumer will allocate all of her income to one good. C) all other influences on demand except the product price are held constant. D) reported income changes at each point on the demand schedule.
Gresham's Law is the tendency for low-quality money to drive high-quality money out of circulation.
a. true b. false
Rising output coupled with falling prices is called stagflation.
Answer the following statement true (T) or false (F)
Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1
What is the value of Nick's consumer surplus for the milkshakes he buys? A) $2 B) $9 C) $3 D) $10