Which of the following statements is correct?
a. About 25 percent of the U.S. population earns an income below the poverty line.
b. About 50 percent of blacks earn an income below the poverty line.
c. Since 1980 the fraction of persons below the poverty level has risen sharply.
d. None of these.
d
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A perfectly competitive firm with a random demand has a ________ expected demand curve and ________ expected marginal revenue curve.
A) horizontal; horizontal B) horizontal; vertical C) vertical; vertical D) vertical; horizontal
How do rising prices slow resource depletion?
What will be an ideal response?
Related to the Economics in Practice on p. 683: According to the International Monetary Fund, the top creditor nation in 2013 was
A. China. B. the United States. C. Saudi Arabia. D. Japan.
If the product derived from the last dollar spent on labor is greater than the product derived from the last dollar spent on capital, then the firm
A. should use less labor and more capital to minimize costs. B. is minimizing costs. C. should use more labor and less capital to minimize costs. D. should increase the price paid to labor and decrease the price paid to capital to minimize costs.