By making infrastructure improvements, the government would change the Misery Index by:
A. Raising the unemployment rate and raising the inflation rate.
B. Raising the unemployment rate but lowering the inflation rate.
C. Lowering the unemployment rate and lowering the inflation rate.
D. Lowering the unemployment rate but raising the inflation rate.
Answer: C
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Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__rrr0818190951__f1q364g1.jpg" alt="" style="vertical-align: 0.0px;" height="117" width="538" />If three stores were to open sequentially, you would expect that those stores would be located:
A. in a cluster, nearest the mountains.
B. at points A, B, and C.
C. in a cluster, near the location chosen by the first store to locate.
D. halfway between the mountains and A, halfway between A and B, and halfway between B and C.
Jane produces only corn and cloth. Taking account of her preferences for corn and cloth
A) makes her production possibilities frontier straighter. B) makes her production possibilities frontier steeper. C) makes her production possibilities frontier flatter. D) does not affect her production possibilities frontier.
It seems quite possible that cigarette companies concealed information about the effects of smoking on health, causing cigarette prices to be __________ and cigarette sales to be __________ than would have been the case under symmetric information.
A. higher; higher B. higher; lower C. lower; higher D. lower; lower
Under perfect competition
A. accounting profits are always zero in the long run. B. information about every possible economic opportunity is somewhat limited. C. the demand curve and the marginal revenue curve are identical. D. the firm has a limited amount of control over the market price.