Most of the poverty in this country can be traced to
A. the recession that began in 1990.
B. the heritage of slavery.
C. five decades of social and economic change.
D. the War on Poverty.
C. five decades of social and economic change.
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Risk-seeking behavior:
A. is irrational. B. is an aspect of an individual's preferences. C. is the same for everyone. D. All of these statements are true.
Cyclical unemployment refers to unemployment resulting from:
a. a mismatch of skills. b. being in the wrong geographical location. c. the time and monetary cost of finding the best job. d. a recession.
The most likely reason that oil prices spiked during 2007-2008 was because
a. suppliers drastically cut back on production b. speculators heavily invested in the futures market c. there was an increase in demand due to an increase in usage d. there was an increase in demand as buyers began to hoard oil for future use e. suppliers increased their production to match the increase in demand
Use the following graph for a profit-maximizing pure monopoly to answer the next question.
The firm will set its price at
A. 0G. B. 0K. C. 0H. D. 0J.