An economy operating its plant and equipment at full capacity implies a capacity utilization rate of
A. 40 percent.
B. 70 percent.
C. 85 percent.
D. 100 percent.
C. 85 percent.
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Total cost falls when marginal cost is ________, and total cost rises when marginal cost is ________
A) negative; positive B) positive; negative C) zero; negative D) zero; positive
Household production increases when there is a stronger desire to avoid taxation
a. True b. False
Demand for one item goes down when the price of another item goes up. These items must be
A. substitutes. B. inferior goods. C. normal goods. D. complements.
Which statement is false?
A. The main liberal theories of poverty are employment discrimination, black male joblessness, and the inadequacy of human capital. B. William Julius Wilson sees racism and technological change as leading causes of black poverty. C. Barbara Ehrenreich and Frances Fox Piven call for a large government jobs program to wipe out poverty. D. None of these statements are false.