About one out of every ________ white children under the age of 18 is poor.
Fill in the blank(s) with the appropriate word(s).
ten
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Why is the economy at full employment in the long run?
A) Only wages have the ability to adjust. B) Only price can adjust. C) Prices don't adjust. D) Wages and the price level eventually adjust to full employment equilibrium levels. E) Government policies eventually converge on the full employment strategy.
If the entire Social Security payroll tax were paid by the employers _____
a. the workers would be better off b. labor costs would increase c. the price of all non-labor goods would rise d. the employees after-tax wage would be unaffected
A perfectly competitive industry always has a perfectly elastic (flat) long-run supply curve
a. True b. False Indicate whether the statement is true or false
The assumption(s) made to construct a kinked-demand oligopoly model is (are) that:
a. all firms in the industry will ignore the price changes made by any one firm. b. any price decrease will be ignored, but price increases will be followed. c. all firms will follow a price decrease but will ignore any price increase. d. all price changes made by any firm will be followed by all of the other firms. e. price can go up, but it cannot go down.