What is the primary basis for determining the U.S. poverty line?
a. Buying power
b. Unemployment rates
c. State and federal tax rates
d. Median family income
a. Buying power
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Which of the following are balance of payments accounts?
i. capital and financial account ii. tariff account iii. current account A) i only B) ii only C) iii only D) i and iii E) ii and iii
What is a mixed economy?
What will be an ideal response?
"I don't feel so good. I shouldn't have had that last doughnut." Which statement best describes this situation?
a. The marginal utility of the last doughnut was positive. b. The marginal utility of doughnuts is still increasing. c. The total utility from eating doughnuts is negative. d. The marginal utility of the last doughnut was negative. e. The marginal utility of the next doughnut will be positive.
Which of the following statements best expresses a firm's profit-maximizing decision rule?
a. If marginal revenue is greater than marginal cost, the firm should increase its output. b. If marginal revenue is less than marginal cost, the firm should shut down in the short run. c. If marginal revenue equals marginal cost, the firm should produce exactly one more unit of output. d. All of the above are correct.