What percentage of American has a favorable opinion of government workers?
a. 20%
b. 50%
c. 70%
d. 90%
Ans: c. 70%
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The closer a market's Herfindahl-Hirschman Index (HHI) is to ________ the less competitive the market, which means there are ________ firms in the market.
A) 100; many B) 10,000; many C) 10,000; few D) 100; few
The difference between price and average total cost is
a. a tax write off b. total economic profit (or loss) c. fixed cost d. the profit (or loss) per unit of output e. average variable cost
The balanced budget multiplier
a. increases as MPC increases b. increases as MPC decreases c. depends on the absolute level of government spending d. is always greater than the income multiplier e. is always equal to 1
Demand for a factor can shift for all of the following reasons except?
A. Change in demand for the final product B. Change in the factor's price C. Change in the price of other factors D. Change in technology