Which of the following happened during the recession of 2007-2009?
A) Housing prices rose. B) Unemployment increased.
C) Consumption increased. D) Food prices rose.
B
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Hold the prices of goods, as well as Amy’s preferences, constant. If Amy’s income increases, then
a. both her indifference curves and budget constraint change. b. her indifference curves change, but her budget constraint does not change. c. her budget constraint changes, but her indifference curves do not change. d. neither her indifference curves nor her budget constraint change.
? In Figure 5-13, the consumer is better off
A. at A than at E. B. at B than at D. C. at any point on U2than at any point on U1. D. All of the responses are correct.
The amount of foreign aid provided by the United States ________
A) constitutes a major proportion of federal government outlays B) is the highest in percentage terms for any developed market economy C) averages about 2.7 percent of U.S. income per year D) is a very small percentage of gross national income
If a hospital is experiencing economies of scale,
a. its average cost curve is positively sloped as output increases. b. its average cost curve is negatively sloped as output increases. c. it should reduce its output level to lower costs. d. quality is falling as output is rising. e. both b and c are true.