All of the following are social insurance programs designed to attack poverty EXCEPT
A) Social Security.
B) temporary assistance to needy families.
C) food stamps.
D) tuition assistance.
Answer: D
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Technological efficiency, defined in terms of completely objective relationships,
A) has no useful meaning. B) influences the decisions of engineers but not of business executives. C) influences the decisions of engineers but not of economists. D) is more important in the long run than in the short run, where profitability tends to dominate decisions.
The long-run average cost curve indicates
a. the lowest average costs of production at each level of output. b. the lowest average costs of production for each plant size. c. the lowest point along each of the firm’s short-run average total cost curves. d. the lowest point along each of the firm’s short-run marginal cost curves.
A rightward shift in labor demand decreases the number of workers hired
a. True b. False Indicate whether the statement is true or false
What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk, which is used to make lattés, increased, and scientists discovered that lattés cause heart attacks?
a. Both the equilibrium price and quantity would increase. b. Both the equilibrium price and quantity would decrease. c. The equilibrium price would decrease, and the effect on equilibrium quantity would be ambiguous. d. The equilibrium quantity would decrease, and the effect on equilibrium price would be ambiguous.