Which of the following groups is under-represented in the poverty statistics relative to their overall U.S. population?
A. Whites (non-Hispanic)
B. Asians
C. Blacks (non-Hispanic)
D. Hispanics
Answer: A
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Antitrust law
a. protects consumers from fraud or similar harm b. helps define resource ownership c. is designed to enforce contracts d. helps prevent firms from limiting competition e. cannot be used to increase economic efficiency
You are trying to decide how to spend your last lunch dollar. You should use that dollar to buy more of the item:
A. that gives you the highest marginal utility per dollar. B. that costs the least. C. that gives you the highest average utility per dollar. D. from which you already have gained the greatest total utility.
Supply-side economists believe that changes in government purchases affect
a. only aggregate demand. b. only aggregate supply. c. both aggregate demand and aggregate supply. d. neither aggregate demand nor aggregate supply.
Households
A) purchase final goods and services in the factor market.
B) purchase final goods and services in the product market.
C) purchase resources in the product market.
D) purchase resources in the factor market.