Which of the following groups had the highest poverty rate in 2014 in the United States?
A) Asians B) Hispanics
C) blacks D) female heads of families
D
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Suppose a consumer is torn between buying a Chevy Tahoe or a Ford Expedition, each selling for $30,000. He eventually decides on the Tahoe. What's his opportunity cost?
A) $30,000 B) $30,000 plus taxes, tags, insurance, etc. C) The satisfaction he would have experienced owning the Ford Expedition D) The frustration he will face owning the Chevy Tahoe E) B, C, and D above.
Refer to Figure 16-3. Suppose Chantal charges all her customers a uniform price of $10 for a haircut. Which of the following statements is true?
A) Chantal is maximizing revenue in market B. B) Chantal is selling more than the profit-maximizing quantity of haircuts in market B. C) Chantal is selling less than the profit-maximizing quantity of haircuts in market B. D) Chantal will earn a greater profit through uniform pricing than if she practices price discriminates.
In a competitive market, the demand and supply curves are Q = 12 - P and Q = 5P, respectively. If output is fixed at Q = 11, what is the amount of the resulting deadweight loss?
A) 0 B) 0.6 C) 11.4 D) 15
If the nominal interest rate is 5 percent and the rate of inflation is 9 percent, then the real interest rate is
a. -4 percent. b. -0.44 percent. c. 4 percent. d. 14 percent.