Compared to the poverty rate for blacks, the poverty rate for whites is a fraction of less than ______.
Fill in the blank(s) with the appropriate word(s).
1/3
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In the short run, movements in exchange rates are caused largely by economic fluctuations
a. True b. False
Refer to Figure 2-9. Which country has a comparative advantage in the production of snow cones?
A) Greenland B) They have equal productive abilities. C) Iceland D) neither country
Marginal productivity analysis shows that a drop in the price of the product will cause input use to
a. increase. b. decrease. c. stay the same. d. The information is insufficient to provide an answer.
Land of Many Lakes (LML) sells butter to a broker in Albert Lea, Minnesota. Because the market for butter is generally considered to be competitive, LML does not
a. choose the quantity of butter to produce. b. set marginal revenue equal to marginal cost to maximize profit. c. have any fixed costs of production. d. choose the price at which it sells its butter.