According to William Julius Wilson, the main exodus of the black working- and middle-class from the ghettos took place in the decade of the _____________.
Fill in the blank(s) with the appropriate word(s).
late 1960s
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The tool that economists use to analyze the mutual interdependence of oligopolies is
A) economies of scale. B) the four-firm concentration ratio. C) game theory. D) the HHI. E) the efficient scale.
Why would a profit maximizing monopolist in a contestable market set its price at a level below that which maximizes short run profits?
What will be an ideal response?
Suppose the IS curve shifts back and forth. With a steep LM curve you get __________ variability in the interest rate and __________ variability in output than you get with a flat LM curve
A) more; more B) more; less C) less; more D) less; less
Answer the following statements true (T) or false (F)
1. In the United States (as of 2013) the age group with the highest percentage of people living in poverty was age 65 and older. 2. The poverty trap is greater for working mothers than for nonworking mothers. 3. The federal government helps fund Medicaid, but each state is responsible for administering the program, determining the level of benefits, and determining eligibility. 4. A Lorenz curve is a graph that compares the cumulative income actually received to a perfectly equal distribution of income. 5. Economists use the demand and supply model to reason through the issues of income inequality. According to the law of supply and demand, if supply increases, then demand must decrease.