When the expected value of search increases:
A. the cost of searching falls.
B. fewer searches occur.
C. more searches occur.
D. the number of searches does not change.
Answer: C
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What is a Lorenz curve and what is a Gini coefficient?
. What will be an ideal response?
If the opportunity cost of producing cheese is higher in Greece than in Italy,
a. Greece should specialize in producing cheese b. Italy should specialize in producing cheese c. both Greece and Italy should produce cheese but Italy should still export cheese to Greece d. Greece gives up fewer goods to produce cheese than Italy does e. both Greece and Italy should produce cheese but Greece should still export cheese to Italy
A price floor set above an equilibrium price tends to cause persistent imbalances in the market because
a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage. b. Quantity demanded exceeds quantity supplied but price cannot fall to remove the surplus. c. Quantity supplied exceeds quantity demanded but price cannot rise to remove the shortage. d. Quantity supplied exceeds quantity demanded but price cannot fall to remove the surplus.
In an attempt to reduce the poverty rate, there has recently been a movement away from income maintenance programs to
A. encouraging people to get jobs. B. Supplemental Security Income programs. C. reducing the age a person can retire at. D. incorporating the Lorenz policy in decisions.