In general in the U.S., persons classified as poor have money income that amounts to
A. less than half the median income.
B. three quarters of the median income.
C. the median income.
D. half the median income.
A. less than half the median income.
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If there is a negative externality, and the market output is 100 units more than the socially optimal output, then it follows that
A. the external costs associated with the negative externality are greater than the marginal private costs. B. the external costs associated with the negative externality are less than the marginal private costs. C. there is market failure. D. any tax imposed on the production of the output will bring about the socially optimal output. E. none of the above
Part of the good economic performance of the United States in the 1990s can be explained by a rightward-shifting aggregate supply curve
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true?
A) The motivation to try to explain something is at the heart of building a theory. B) If a theory makes people uncomfortable then it should be discarded or ignored. C) In order for a theory to be valid it must be a perfect description of reality. D) Building a theory and evaluating a theory are the same thing.
An important antitrust concern about new companies such as Google and Facebook is that they:
A. do not have incentives to innovate. B. use data on their customers to direct ads. C. charge monopoly prices for their services. D. benefit from first-mover advantage.