Throughout the world, poverty is greater among women than men, particularly women who head households
a. True
b. False
A
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Gwen’s decision to buy a new television instead of a bicycle for the same price
A. means that opportunity cost is zero since both cost the same amount. B. would not have involved trade-off and opportunity cost if Gwen had decided to put the money in a bank CD instead. C. would not imply a trade-off because of scarcity if Gwen were a multimillionaire. D. means that the opportunity cost to Gwen is the bicycle that she has given up.
If a nonbinding price ceiling is imposed on a market, then the
A. price in the market will decrease. B. price in the market will increase C. quantity sold in the market will stay the same. D. quantity sold in the market will decrease.
If your income increases from $10,000 per year to $14,000 per year and your tax payment increases from $2,000 to $2,840, the marginal tax rate:
A. Is 20 percent B. Is 21 percent C. Is 25 percent D. Cannot be determined from the given data
Which of the following market structures will have only normal profit in the long run?
A. Oligopoly. B. Monopolistic competition. C. Monopoly. D. Duopoly.