Stagflation is the combination of
a. falling output and a falling price level
b. falling output and rising unemployment
c. falling output and a rising price level
d. falling output and falling unemployment
e. rising unemployment and a falling price level
C
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Each of these statements is true except
A. Female-headed black families with children under 18 have a poverty rate of almost 47%. B. Female-headed white families with children under 18 have a poverty rate of almost 35%. C. All families receiving public assistance are poor. D. All poor families receive public assistance.
For all firms, the additional revenue collected from the sale of one additional unit of output is termed:
A. marginal profit. B. average revenue. C. marginal revenue. D. price.
Suppose China can produce either 600 telephones or 400 DVD players, and Japan can produce either 400 telephones or 200 DVD players. Implicitly, China has
A. Both an absolute and a comparative advantage in DVD players. B. Neither a comparative nor an absolute advantage in DVD players. C. A comparative but not necessarily an absolute advantage in DVD players. D. An absolute but not necessarily a comparative advantage in DVD players.
Positive-Incentive
What will be an ideal response?