Today the greatest number of poor are _________ Americans, but the poverty rate for __________ Americans is higher.

A. white; black and Hispanic
B. black; white
C. black; Hispanic
D. white; Hispanic


A. white; black and Hispanic

Economics

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Suppose capital and labor are perfect substitutes resulting in a production function of q = K + L. That is, the isoquants are straight lines with a slope of -1

Derive the long-run total cost function TC = C(q) when the wage rate is w and the rental rate on capital is r.

Economics

If velocity is a constant, then the equation of exchange is an economic model

a. True b. False Indicate whether the statement is true or false

Economics

When a firm produces 50,000 units of output, its total cost equals $6.5 million. When it increases its production to 70,000 units of output, its total cost increases to $9.4 million. Within this range, the marginal cost of an additional unit of output is

A) $41.43.
B) $134.29.
C) $135.
D) $145.

Economics

If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries

A) the long-run aggregate supply curve will shift to the right. B) the long-run aggregate supply curve will shift to the left. C) we will move up along the long-run aggregate supply curve. D) we will move down along the long-run aggregate supply curve.

Economics