Income mobility tells us:
A. how likely people are to seek out opportunities to better themselves.
B. the inflation rate associated with wages across all jobs in a country.
C. how available the opportunity to better oneself is in the economy.
D. the inflation rate relative to the cost of living in a country.
C. how available the opportunity to better oneself is in the economy.
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Use the following graph for a pure monopoly operating in the short-run to answer the next question.
To maximize profits, this firm should charge a price of ________.
A. 0B B. 0C C. 0A D. not labeled on the graph
In order for Ireland to grow more potatoes, wool production must decrease. This situation is an example of
A) opportunity benefit. B) a tradeoff. C) zero opportunity cost. D) producing at a point that lies beyond the PPF. E) a free lunch.
In the Keynesian model, which curve is vertical?
A) LRAS B) SRAS C) AD D) NS
The Antitrust Division of the Department of Justice carefully scrutinizes mergers. Why?
What will be an ideal response?