The poor, in considering a job offer, face constraints that middle-class job seekers are not subject to. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
The game in Scenario 13.10 is A) variable-sum. B) constant-sum. C) cooperative. D) a Prisoners’ Dilemma. E) a Cournot Production Cross. ANSWER B
Date: September 9th, 2020
The official government measure of poverty uses the relative approach to defining poverty. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
Most cultural theories of poverty assert that the poor lack sufficient desire and motivation to escape poverty. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
Your 65-year-old father is going to retire next year. He would like to have an income of $20,000 per year for the remainder of his life. If he is expected to live for ten more years, write an algebraic expression to indicate the amount of money he needs today to pay him this sum of […]
Date: September 9th, 2020
The norms, values, and aspirations of a group are directly observable. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
In the short run, a perfectly competitive firm earning positive economic profit is A) on the downward-sloping portion of its ATC. B) at the minimum of its ATC. C) on the upward-sloping portion of its ATC. D) above its ATC. E) below its ATC. ANSWER C
Date: September 9th, 2020
Luxury brands like designer sunglasses are goods that may exhibit snob effects. Suppose this is true, and the price for a particular brand increases. What happens to the component changes in the quantity demanded? A) Pure price effect and snob effect are negative B) Pure price effect and snob effect are positive C) Pure price […]
Date: September 9th, 2020
Refer to Scenario 13.9. If this game is repeated over an infinite or uncertain horizon, the most likely observed behavior will be that A) both firms pollute. B) only Lago pollutes. C) only Nessie pollutes. D) neither firm pollutes. E) the firms alternate polluting in different periods. ANSWER D
Date: September 9th, 2020
An upward sloping isoquant A) can be derived from a production function with one input B) can be derived from a production function that uses more than one input where reductions in the use of any input always reduces output C) cannot be derived from a production function when a firm is assumed to maximize […]
Date: September 9th, 2020
