Unemployment insurance is an example of a discretionary fiscal policy
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following groups is most likely to derive substantial benefits from the Patient Protection and Affordable Care Act?
a. Healthy young people. b. Individuals and families with incomes of more than 400 percent of the poverty level. c. Individuals with pre-existing health problems. d. The elderly.
In the short run, a perfectly competitive firm will always shut down if total revenue is ____ at all positive output levels
a. less than total cost b. less than total cost but greater than variable cost c. less than total cost but greater than fixed cost d. greater than fixed cost e. less than variable cost
Consider a consumer choosing between spending her money on food, F, or clothing, C. Assume that a unit of food and a unit of clothing have the same price, and that the consumer can afford a total of 20 units of either food or clothing. This is an example of:
A. a constrained optimization problem. B. a sunk cost. C. a sinking cost. D. the No Marginal Improvement Principle.
The most common way for workers to hold market power is when:
A. there are a lot of them. B. they compete for minimum wage. C. they are unionized. D. a monopsony exists.