Which of the following has resulted from the rise in the participation of women in the labor force?
a. More men lost jobs in the long run
b. Youth crime increased significantly
c. Households produced less for themselves and demanded more from the market
d. More families moved to rural areas
c
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When positive economic profits exist in an industry:
A) the market price of the good produced by the industry is less than the average total cost of the industry. B) resources flow from less productive uses to that particular industry. C) there is an exit of firms from the industry. D) the market price of the good produced by the industry is less than the marginal cost faced by the industry.
Return to the case of Jan, the hyperbolic discounter from the previous question. What values of B and C will lead her to be consistent with a plan to undertake the action?
a. C < B < 2C. b. B < C. c. B > 2C. d. B < C < 2B.
In 2003, Congress passed a substantial cut in income taxes. The Federal Reserve also lowered interest rates. How can these two actions be categorized?
A) Both actions can be categorized as fiscal policy. B) Both actions can be categorized as monetary policy. C) The tax cut can be categorized as monetary policy and the lowering of interest rates can be categorized as fiscal policy. D) The tax cut can be categorized as fiscal policy and the lowering of interest rates can be categorized as monetary policy.
Which of the following is a "unit-free" measure?
A. Price elasticity of demand B. Producer surplus when the supply curve is vertical C. Consumer surplus when the demand curve is horizontal D. Market supply