Which statement is false?
A. The unemployment rate for blacks has consistently been double that of whites.
B. The largest source of income is property income.
C. Women have traditionally earned 60% of what men have earned.
D. None of these statements are false.
B. The largest source of income is property income.
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An example of a real-life rule that might constrain people's behavior is:
A. minimum wage legislation. B. having 24 hours in a day. C. the earth's limited supply of oil. D. All of these are examples of real-life rules.
Assume the economy is at full employment. Which of the following would you expect if oil prices suddenly decreased?
a. A recession b. A decrease in employment below its full-employment level c. An economic contraction d. A technological breakthrough e. An increase in employment above its full-employment level
You have a bond that you can redeem for $10,000 one year from now. The interest rate is 3 percent (0.03) per year. How much is the bond worth today?
a. $9,090.91 b. $10,000.00 c. $8,264.46 d. $9,708.74 e. $9,000.00
A firm must be able to ________ competition if it is to exercise control over the price of its product.
A. limit B. not change C. maximize D. increase