Of the in-kind programs, food stamps have the highest total annual cost
Indicate whether the statement is true or false
F
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So long as a firm is enjoying increasing marginal returns, a one unit increase in output will cause marginal costs to ________ and total costs to ________
A) increase; increase B) decrease; increase C) increase; decrease D) decrease; decrease
The market for smartwatches is becoming very competitive. The increase in competition in this market is an example of how the market responds to
A) changes in population.
B) increases in income.
C) changes in consumer tastes.
D) decreases in the price of smartphones (a substitute for the product).
Economists assume people are motivated by
A) unlimited resources. B) pride. C) self-interest. D) social justice.
The job loss rate
A. rises in expansions. B. rises in recessions. C. remains constant over the business cycle. D. equals 1 minus the job finding rate.