One characteristic of indifference curves is that
A. they must intersect at the origin.
B. they are straight lines.
C. they have a positive slope.
D. they cannot intersect.
Answer: D
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When determining her accounting profit, an entrepreneur would include
A) her foregone wages. B) her foregone interest. C) her foregone rent. D) all of the above. E) none of the above.
The ________ is the total number of people aged 16 years and older (and not in jail, hospital or institutional care) while the ________ is the number of people employed and the unemployed
A) labor force; working-age population B) labor force participation rate; labor force C) working-age population; labor force D) working-age population; labor force participation rate
If you fall short of a certain minimum standard of living, you are poor; once you pass this standard, you are no longer poor. This refers to the ____ definition of poverty.
A. average B. absolute C. relative D. threshold
Refer to the information provided in Figure 23.5 below to answer the question(s) that follow.
Figure 23.5Refer to Figure 23.5. If aggregate income is $900 billion, aggregate consumption
A. is $25 billion. B. is $800 billion. C. is $875 billion. D. cannot be determined from this information.