Which statement is false?
A. The unemployment rate for blacks has consistently been double that of whites.
B. The largest source of income is property income.
C. Women have traditionally earned 60% of what men have earned.
D. None of these statements are false.
B. The largest source of income is property income.
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Assume that when the price of good Z is increased from $5 to $6, the total revenue earned increases from $600 to $690. Based on this information, we can conclude that over this range, demand for Z is:
A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic.
The minimum efficient scale in the figure below shows that
A. point A is the minimum efficient scale (MES) for the firm. B. the long-run average cost curve (LAC) reaches a minimum point at B. C. point B is the minimum efficient scale (MES) for the firm. D. the minimum efficient scale (MES) illustrates maximum average costs.