The concept of absolute poverty states that anyone who falls too far behind the average income should be considered poor.
Answer the following statement true (T) or false (F)
False
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In answering the question "Did the Civil War help promote economic growth and industrialization?" Hughes and Cain (2011) conclude that
(a) the war, rather than being a major stimulus to industry, was actually a great drain that slowed U.S. economic development for a time. (b) the war was indeed a major stimulus to industry because it promoted the building of wartime factories and new technology, which then provided a basis for rapidly growing production levels when peace came. (c) the war was a setback for the South but a great stimulus for the North. (d) the war seemed to have had no overall impact on the economic growth of the nation.
Which of the following firms is in a monopolistically competitive market?
A. Oral-B (a toothbrush manufacturer) B. the U.S. Postal Service C. Marlboro (a cigarette manufacturer) D. United Airlines (an airline company)
Suppose a 1-pound steak sells at a grocery store for $7. Suppose that the grocery store purchased it from a butcher for $4. Suppose the butcher bought cattle from farmers for $2 per sellable pound, paid their labor approximately $1 for pound of sellable beef labor, and made $1 in profit. What is the GDP contribution of the steak?
A. It is $15. B. It is $4. C. It is $11. D. It is $7.
Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times. If Stan plays his ideal mixture, Kyle's expected payoff is zero w
A) plays a pure strategy of "shoot 1." B) plays a pure strategy of "shoot 2." C) plays his ideal strategy. D) All of the above are correct.