The most affordable places to live tend to be located disproportionately in
A. Michigan, Ohio, and Illinois.
B. Mississippi and Louisiana.
C. California, New York, and New Jersey.
D. all of these, because affordable places to live are randomly distributed geographically.
Answer: A
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Non-activists
A) distrust the ability of the political process to formulate sensible economic policy. B) argue for a constant-growth-rate rule for the money supply. C) argue that more unemployment now may prevent a lot more unemployment in the future. D) All of the above.
The market demand for a good is derived by summing all the individual demands
Indicate whether the statement is true or false
Which is an illustration of a microeconomic question?
a. What is the current national rate of unemployment? b. Is the production of goods and services in the economy greater this year than last year? c. Is the economy experiencing a decline in the rate of inflation? d. Will a new type of television set increase the number of buyers?
Refer to the data provided in Table 9.2 below to answer the question(s) that follow.
Table 9.2
Refer to Table 9.2. If the market price is $28 and the firm produces 5 units of output, then its profit would be
A. -$50. B. -$44. C. $0. D. $18.