Which group has the lowest percentage of members with college degrees?
a. black women
b. black people overall
c. white women
d. white people overall
b. black people overall
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The traditional Keynesian approach to fiscal policy assumes that
A) an equal income distribution ensures a stable economy. B) consumers spend more when their incomes are higher. C) cutting taxes is a more effective way to stimulate the economy than is increasing government spending. D) the effect of unemployment compensation is to destabilize the economy.
Happy Cows is a dairy farm that is currently earning $100,000 in economic profit. The managers of Happy Cows are considering adding a second dairy farm, which will generate an additional $40,000 in economic profit. It is economically sound for the managers of Happy Cows to add the second farm if, after accounting for the managerial diseconomies, the first farm's economic profits exceed ________.
A) $30,000 B) $60,000 C) $40,000 D) $10,000
Exhibit 7-5 Workers and output data Laborers TotalProduct 0 0 1 8 2 20 3 25 4 28 5 29 In Exhibit 7-5, diminishing returns set in when the ____ worker is hired.
A. first B. second C. third D. fourth
Suppose the demand for hot dogs decreases. In the short run, firms that produce hot dogs will experience a fall in prices, which will induce them to:
A. increase production and increase the number of workers. B. decrease production and increase the number of workers. C. decrease production and reduce the number of workers. D. increase production and reduce the number of workers.