Because of increasing opportunity costs, the production possibilities frontier
A. is a straight downward-sloping line.
B. at first rises, then falls eventually.
C. can be either downward- or upward-sloping.
D. is bowed out from (or concave to) the origin.
Answer: D
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In New York, a welfare recipient can earn $90 per month without having her benefits reduced. Beyond $90, benefits are reduced by 57 cents for every dollar of earnings. Consider Jackie, a resident of New York, who can earn $10 per hour. If she does not work at all, she is eligible for welfare benefits of $577.
(A) If she works 10 hours, how much are her work earnings, how much is her welfare benefits, and how much is her total income? (B) After Jackie works a certain number of hours, she does not receive any benefits at all. What is that number of hours?
Which statement is true?
A. The National Football League, Major League Baseball, and the National Basketball Association are all monopsonies. B. Professional baseball, basketball, and football all used to be monopsonies, but ceased to be with the emergence of free agent bargaining. C. Professional sports are not now, nor ever were monopsonies. D. None of these statements are true.
Giorgio wants to build a new distribution warehouse for his sporting goods business and is going to issue new shares of stock to do so. This is an example of using ________ for his building project
A) direct finance B) indirect finance C) retained earnings D) dividends
The amount of time that it takes to identify a national economic problem is
A) the effect time lag. B) the action time lag. C) the recognition time lag. D) fiscal policy.