When a decision is made based on a simple majority vote it is possible for the total benefits to the community of this decision to be less than the total costs to the community of this decision
Indicate whether the statement is true or false
True
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Which group below will generally have a more difficult time finding employment if a nation's minimum wage were increased?
A) Those with more work experience B) Those who are among the younger job seekers C) Those who form the majority race in the population D) All of the above.
Which of the following statements is an example of a positive, as opposed to normative, statement?
a. Americans deserve a cleaner environment. b. Reducing emissions reduces days missed from school due to asthma. c. All Americans are entitled to quality health care. d. Economic policies should focus on improving equality.
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. This market will be in equilibrium if the quantity of cheeseburgers demanded is
A. 300. B. 600. C. 900. D. 1,200.
Suppose a jar of DeLux popcorn that is ultimately sold to a customer at Friendly Groceries is produced by the following production process: Name of CompanyRevenuesCost of Purchased inputsFulton Family Farm$0.500DeLux Popcorn Co.$2.50$.50Friendly Groceries$4.00$2.50If the corn was grown and the jar of popcorn produced in the year 2015, but the jar was sold at Friendly Groceries in the year 2016, what is the contribution of these transactions to GDP in the year 2016?
A. $0.50 B. $4.00 C. $1.50 D. $0.00