Which would decrease investment demand?
a. A decrease in the stock of capital goods on hand
b. A decrease in business taxes
c. An increase in the rate of technological change
d. An increase in the cost of acquiring capital goods
d. An increase in the cost of acquiring capital goods
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If leisure is a normal good, then the income effect of a decrease in wage will
A) decrease the number of hours worked. B) increase the number of hours worked. C) decrease the number of leisure hours. D) increase the sum of leisure plus hours worked.
Figure 13-3
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Oligopolist A cuts price in an attempt to enlarge his share of the market. His competitors retaliate with identical price cuts. In this case, in Figure 13-3, oligopolist A will move from point A to which point?
A. B B. C C. D D. E
Which of the following statements is correct?
a. Less than three percent of families are categorized as poor for eight years or more. b. In the United States, the grandson of a millionaire is much more likely to be rich than the grandson of an average-income person. c. The majority of millionaires in the United States inherited their wealth. d. Most workers have about the same income (adjusted for inflation) when they are young as when they are middle-aged.
The U.S. poverty rate for:
A. Hispanics is higher than that for African Americans. B. children under 18 years of age is higher than for the overall population. C. African Americans has increased since 1993. D. foreign-born individuals who are not citizens is below the poverty rate for the general population.