In Brown v. Topeka Board of Education, the Supreme Court established that
A) "separate educational facilities are inherently unequal."
B) "educational facilities must remain segregated for the good of the majority."
C) "educational facilities in the United States are not sufficiently segregated to require any government action."
D) "individual states have the right to segregate educational facilities as they see fit."
A
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Total utility
A. diminishes as the quantity consumed of a good increases. B. increases as long as more goods are acquired. C. increases as long as marginal utility increases. D. increases as long as marginal utility is positive. E. diminishes as consumption of some good rises.
The welfare program economists believe to be most compatible with economic efficiency is
a. a regressive tax system. b. AFDC. c. a negative income tax. d. Medicare/Medicaid.
Ashley puts money in a savings account at her bank earning 2 percent interest. One year later she takes her money out and notes that prices rose 3 percent. Ashley earned a a. real interest rate of -1 percent due to inflation
b. real interest rate of 1 percent due to inflation. c. nominal interest rate of -1 percent due to inflation. d. nominal interest rate of 1 percent due to inflation.
A company finds that at its present level of production, MC = AVC at $15, MC = ATC at $20, and MC = MR at $17. Your advice to the firm regarding its short-run operations is
A) to continue production, as it is earning an economic profit of $2 per unit. B) to continue production, as it is earning an economic profit of $3 per unit. C) to shut down. D) to continue production at a loss.