When one person enjoys the benefit of a tornado siren, she reduces the benefit to others
a. True
b. False
Indicate whether the statement is true or false
False
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The marginal cost of an activity ________ as you do more of it
A) increases B) decreases C) doesn't change D) changes only if the marginal benefit of the activity does not change E) changes only if the marginal benefit of the activity changes
Which of the following statements is not correct?
a. Competitive markets tend to limit the impact of discrimination on wages. b. Differences in earnings of whites and blacks or men and women provide clear evidence of discrimination. c. Some differences in earnings are attributable to discrimination based on race, sex, or other factors. d. Profit-maximizing behavior can reduce discriminatory wage differentials.
If the price elasticity of demand is equal to 2, the good has ________ demand.
A. unitary elastic B. elastic C. restrictive D. inelastic
A decline in household income that sets off a multiplier process causes
A. An increase in AD. B. A decrease in AS. C. A decrease in AD. D. An increase in AS.