Most of the women with children on welfare are
A. "Welfare Queens".
B. either working, looking for work, or being trained for work.
C. having one baby after another.
D. enjoying a fairly high standard of living.
B. either working, looking for work, or being trained for work.
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The output level is constant along any isoprofit line.
Answer the following statement true (T) or false (F)
A recession is best defined as a period during which: a. the percentage of the population employed increases. b. employment, output, and income decrease
c. the average price level in an economy decreases. d. the usage of labor and capital resources increases. e. budget deficit and trade deficit decrease.
Nonexcludability causes:
A. people to demand a higher quantity than they would if they had to pay for what they consumed. B. people to demand a lower quantity than they would if they paid for what they consumed. C. firms to supply a lower quantity than they would if they incurred the full costs of the provision of the good. D. firms to supply a higher quantity than they would if they had to pay for what they supplied.
Which of the following lies primarily within the realm of microeconomics?
a. an empirical analysis of the relationship between the growth of the money supply and the rate of inflation b. an economic model forecasting the impact of a tax increase on consumer spending and national output c. a study of supply and demand conditions in the market for orange juice d. a model forecasting the impact of a change in interest rates on the level of investment in the economy