Community-wide poverty:
A. only creates problems in less wealthy countries.
B. creates problems beyond those faced by poor individuals living in wealthier communities.
C. is nonexistent in the developed world.
D. None of these is true.
Answer: B
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If there are 50 firms in the industry, and each have an equal market share, the Herfindahl index will be equal to 1,00,000
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a normative, as opposed to positive, statement?
a. The growth rate of the economy last year was higher than any other year in the last decade. b. The federal government reduced spending in the last quarter of the fiscal year. c. The Federal Reserve Bank adjusted interest rates in response to the lower-than-expected growth rate of the economy. d. The federal government should decrease unemployment benefits to stimulate the economy out of the recession.