When firms advertise their products, they are attempting to:
A. shift the supply curve of the product to the right.
B. shift the supply curve of the product to the left.
C. shift the demand for the product to the right.
D. shift the demand for the product to the left.
Answer: C
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The table above shows techniques that can be used to produce 100 shirts. If the price of an hour of labor is $10 and the price of a unit of capital is $12, then the economically efficient technique is
A) W. B) X. C) Y. D) Z.
Writing during the Great Depression, Keynes naturally focused on problems of
a. hyperinflation. b. budget deficits. c. trade deficits. d. unemployment.
Refer to Scenario 19.1 below to answer the question(s) that follow. SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%. Refer to Scenario 19.1. When this person earns $70,000, her average tax rate is
A. 20.7%. B. 22.5%. C. 25%. D. indeterminate from this information.
Which statement is true?
A. Income is fairly evenly distributed in the U.S. B. The richest 1% of our population has nearly 50% of the income. C. The percentage of Americans below the poverty line has been falling steadily (except for recession) since the 1950s. D. Eleven percent of the children under six living in a two parent home are poor.