The poor have demonstrated a marked ability to move out of poverty when economic opportunities improved
Indicate whether the statement is true or false
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The absolute price of a commodity is the amount of
a. other goods that must be sacrificed in order to purchase one unit of the commodity. b. resources required to produce one unit of the commodity. c. currency needed to purchase one unit of the commodity. d. time and effort used to develop a market for the buying and selling of the commodity.
During a recession, the duration of unemployment ________ and the unemployment rate is ________ the natural rate of unemployment
A) does not change; equal to B) shortens; equal to C) shortens; greater than D) lengthens; less than E) lengthens; greater than
If a firm faces a flat demand curve,
A) it cannot engage in price discrimination. B) it can only engage in two-part tariffs. C) it can only engage in perfect price discrimination. D) None of the above.
The two conflicting tendencies that a firm has in an oligopolistic industry are the incentive to
a. cheat to maximize joint profits and the incentive to raise prices. b. cheat and avoid collusion and the incentive to raise price to maximize the firm's share of profits. c. increase output in order to minimize per-unit costs and the incentive to reduce price in order to maximize joint profit. d. cooperate to maximize joint profits and the incentive to cheat on the agreement in order to increase the firm's share of the profit.