Household heads who typically work full-time year round have a 1 in 30 chance of being poor
Indicate whether the statement is true or false
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The monetary base is
A) currency and reserves of depository institutions. B) currency minus depository institutions' reserves. C) depository institutions' reserves minus Federal Reserve notes. D) the money borrowed by banks from other banks.
When a consumer is at his or her best affordable point, the budget line
A) is flatter than the highest attainable indifference curve. B) is tangent to the highest attainable indifference curve. C) is steeper than the highest attainable indifference curve. D) does not touch the highest attainable indifference curve.
Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 60 cookies together. What is the average product of the first two workers?
A. 15 cookies B. 20 cookies C. 35 cookies D. 17.5 cookies
Which of the following statements about elasticity of supply is true?
a. Elasticity of supply is always unity. b. Elasticity of supply is always zero. c. Elasticity of supply is always negative. d. Elasticity of supply is always positive.