In the above figure, point B
A) is superior to point A.
B) is inferior to point A.
C) is as good as point A.
D) could be superior to, inferior to, or as good as point A but there is no way of telling which.
B
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What is the opportunity cost of going from point C to point D?
Assume that the money stock is the intermediate target and money demand is totally interest- inelastic. Then, the
a. LM schedule will be horizontal. b. LM curve schedule would be vertical. c. IS curve would be horizontal. d. None of the above
Answer the following statements true (T) or false (F)
1. The median income of white households is greater than the median income of all households in the United States. 2. Labor market discrimination on the basis of sex or race is usually person-specific rather than a general labor practice. 3. The fact that women in large numbers choose careers in education and nursing may be the result of occupational segregation. 4. An equitable distribution of income is based on an objective standard, such as the perceived productivity of the individual. 5. The goal of every economic system should be the elimination of income inequality.
Income mobility studies suggest that poverty
a. cannot be alleviated by privately sponsored anti-poverty programs. b. cannot be alleviated by government sponsored anti-poverty programs. c. is a long-term problem for a relatively large number of families. d. is not a long-term problem for most families.