A 2017 study showing that the proportion of people with health insurance is higher among people with higher income
What will be an ideal response?
is an example of positive economics.
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If policy makers expand aggregate demand, they can lower unemployment ____, but only by ____
a. temporarily; decreasing inflation b. temporarily; increasing inflation c. permanently; decreasing inflation d. permanently; increasing inflation
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The ABC Corporation decreases all of its inputs by 12 percent and finds that its output falls by only 8 percent. This means that initially it was producing:
A. in the range of diseconomies of scale. B. in the range of economies of scale. C. where AP is less than MP. D. at the point of minimum efficient scale.
Refer to the above figure. If the farmer is growing 8,000 bushels of beans and 8,000 bushels of wheat, then we know that
A. the farmer cannot be using the amount of land that was used to construct the curve. B. the farmer is not using resources efficiently. C. the farmer is using more land for wheat than for beans. D. the farmer should increase the amount of wheat grown and reduce the amount of beans.