Which of the following statements is not correct?
a. The percentage of the population that suffers from long-term poverty is far smaller than the percentage of the population that suffers from short-term poverty because there is a high level of economic mobility in the United States.
b. Permanent income is a better measure of a family's ability to buy the necessities of life than is transitory income.
c. The economic life cycle theory explains why gifts of goods and services reduce poverty for the very young and the very old.
d. Because people can borrow and save to smooth out changes in income, their standard of living in any one year depends more on lifetime income than on a particular year's income.
c
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According to the above figure, the average propensity to save (APS) is zero at point
A) D. B) F. C) I. D) J.
Hiring a sports celebrity to advertise a car dealership is a way of
A. screening those who aren’t willing to pay as much for a car. B. statistically discriminates potential buyers who like sports. C. signaling the quality of the cars because it is costly to hire that celebrity. D. a waste of the dealership’s money because celebrities aren’t car experts.
In the short run, a firm should shut down if its economic loss from operating exceeds its total fixed cost
a. True b. False Indicate whether the statement is true or false
Quantity demanded is determined by how much consumers are willing to pay for the good or service.
Answer the following statement true (T) or false (F)