Compared to 1960, in 2008 the proportion of retirees living in poverty has fallen from 35 percent to about _________ percent.
A. 5 percent
B. 10 percent
C. 15 percent
D. 20 percent
B. 10 percent
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If the above figure illustrated a perfectly competitive industry, the equilibrium market price would be equal to
A) $4. B) $7. C) $9. D) $11.
The primary additional insight provided by expanding the theory of demand from two to three goods is that a pair of goods may now be:
a. gross substitutes. b. gross complements. c. net substitutes. d. net complements.
A monopsony is an example of:
A. a buyer holding market power. B. a seller holding market power. C. a single seller holding all market power. D. an efficient market with no market power.
Assume that expected inflation is based on the following: ?et = ??t-1. An increase in ? will cause
A) an increase in the natural rate of unemployment. B) a reduction in the natural rate of unemployment. C) no change in the natural rate of unemployment. D) inflation in period t to be more responsive to changes in unemployment in period t.