Between 1960 and 1973 the poverty rate ___; between 1973 and 1983 the poverty rate ___.
A. rose; rose
B. fell; fell
C. rose; fell
D. fell; rose
D. fell; rose
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The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for cod, a common resource. A quota to prevent the overuse of the cod sets the catch equal to ________
A) 0 tons per week B) 300 tons per week C) 400 tons per week D) None of the above answers is correct.
Economic efficiency entails
A) producing a given amount of output with the most expensive mix of inputs. B) producing a given amount of output with the least number of inputs. C) producing a given amount of output with the most inputs. D) producing a given amount of output with the cheapest mix of inputs.
It is best to view the official unemployment rate as a useful but imperfect measure of joblessness
a. True b. False Indicate whether the statement is true or false
Monopolists differ from perfectly competitive firms
A. on neither the cost nor demand sides of the profit equation. B. on the demand side of the profit equation alone. C. on the cost side of the profit equation alone. D. on the cost and demand sides of the profit equation.