One of the most illuminating ways to view any economic problem is through the status of the middle class of a population. In general, the middle class has determined the political outcomes of almost every modern nation since the French Revolution. In the minds of many, the middle class will determine America's fate.

To discuss the middle class, one must establish a standard. Many believe that the middle class standard is best described as an educated group (actually, this would be upper middle) with upward economic mobility, that is: safe homes and workplaces, worthwhile jobs with compensations that advance above inflation and are in line with demonstrated increased productivity, acceptable levels of healthcare, comfortable retirements, and acceptable amounts of debt. This is the standard that America has worked to achieve since World War II. If the number of people within this category begins to decline, many believe thatallis lost.One of the most illuminating ways to view any economic problem is through the status of the middle class of a population. In general, the middle class has determined the political outcomes of almost every modern nation since the French Revolution. In the minds of many, the middle class will determine America's fate.

To discuss the middle class, one must establish a standard. Many believe that the middle class standard is best described as an educated group (actually, this would be upper middle) with upward economic mobility, that is: safe homes and workplaces, worthwhile jobs with compensations that advance above inflation and are in line with demonstrated increased productivity, acceptable levels of healthcare, comfortable retirements, and acceptable amounts of debt. This is the standard that America has worked to achieve since World War II. If the number of people within this category begins to decline, many believe thatallis lost.One of the most illuminating ways to view any economic problem is through the status of the middle class of a population. In general, the middle class has determined the political outcomes of almost every modern nation since the French Revolution. In the minds of many, the middle class will determine America's fate.

To discuss the middle class, one must establish a standard. Many believe that the middle class standard is best described as an educated group (actually, this would be upper middle) with upward economic mobility, that is: safe homes and workplaces, worthwhile jobs with compensations that advance above inflation and are in line with demonstrated increased productivity, acceptable levels of healthcare, comfortable retirements, and acceptable amounts of debt. This is the standard that America has worked to achieve since World War II. If the number of people within this category begins to decline, many believe thatallis lost.

Question eight

1. According to Simon if a firm fails to achieve its target initially results in:

2. Managerial utility function is expressed as:

3. It is the difference between total revenue and total economic cost

4. . Invisible hand theory is given by----------

5. Managers are Agent when:

6. . Accounting cost include:

7. If economic profit equal to zero then:

8. Trade-offs are required because wants are unlimited and resources are:

9. Economics is the study of:

10. Which of the following statements regarding the circular-flow diagram is true?