It is difficult to say whether welfare "causes" daughters from welfare families to be more likely to participate in the welfare system themselves because
a. the same factors that contribute to a mother's welfare status can also contribute to her daughter's welfare status
b. no research has been done on this topic
c. economists are unconcerned with questions about welfare status
d. if two factors occur together, then one must cause the other
e. it is possible that the daughter's welfare status "causes" the welfare programs
A
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Compared to other economies, the unemployment rate in the United States ________
A) is relatively high B) is relatively low C) is remarkably stable D) is neither particularly high nor low E) varies too much for a reasonable comparison
If a union sets the wage rate to maximize the total wage receipts of its members, the marginal revenue would be
A) zero. B) negative. C) positive, but greater than 1. D) positive, but less than 1.
In the long run in a competitive market,
a. existing firms can increase their plant size, and new firms can enter the market b. existing firms can increase their plant size, but the number of firms is the market is fixed c. new firms can enter the market, but existing firms cannot vary their plant size d. new firms can enter the market, but only if existing firms decrease their plant size in the short run e. existing firms can increase their plant size, only if some other firms exit
Many economists consider perfect competition to be the most desirable market structure because they believe it generates the
a. highest average cost b. lowest prices and output c. greatest economic profit d. lowest prices and greatest output e. greatest normal profit