According to Darity and Myers
A. black men are becoming increasingly marginal to our economy.
B. the basic cause of poverty is welfare dependency.
C. the best solution to poverty is the negative income tax.
D. as our economy continues to expand, black poverty will decline.
A. black men are becoming increasingly marginal to our economy.
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Suppose Jason owns a small pastry shop. Jason wants to maximize his profit, and thinking back to the microeconomics class he took in college, he decides he needs to produce a quantity of pastries which will minimize his average total cost
Will Jason's strategy necessarily maximize profits for his pastry shop? A) No; In order to maximize profit, Jason would never want to produce the quantity where average total cost is minimized. B) Yes; Since Jason's pastry shop is in a perfectly competitive market, the only way to maximize profit is to produce the quantity where average total cost is minimized. C) Not necessarily; Depending on demand, Jason may maximize profit by producing a quantity other than that where average total cost is at a minimum. D) Not necessarily; This strategy will only maximize Jason's profit in the long run, but not in the short run.
The stage of industrial development during the early part of the 20th century is usually referred to as Fordism. The characteristics of this system include all of the following except
(a) Moving assembly-line production (b) Mass production of relatively inexpensive consumer goods (c) The extensive use of skilled labor to produce complex consumer goods (d) Consumer durable goods purchased on installment credit