Between 1950 and 1998, Overall Infant Mortality in the United

question 14

Multiple Choice

Between 1950 and 1998, overall infant mortality in the United States declined for all racial groups. The absolute reduction in infant deaths during this period was almost 50% higher among blacks than whites. While the rate difference decreased during this time period, during the same time period the rate ratio between the two groups increased. How do the statistics of the rate difference and the rate ratio compare the benefit to the black racial group?

• A) The rate difference indicates that blacks benefited less, but the rate ratio indicates that blacks benefited more.
• B) The rate difference and the rate ratio both indicate that blacks benefited more than whites.
• C) The rate difference indicates that blacks benefited more, but the rate ratio indicates that blacks benefited less.
• D) The rate difference and the rate ratio both indicate that blacks benefited less than whites.

Identify the factors leading to entry and exit of firms in a competitive market.

Recognize the characteristics of a perfectly competitive market, including demand curve elasticity.

Grasp the concept of economic profits and how they approach zero in the long run in competitive markets.

Understand the role and impact of barriers to entry and exit in competitive industries.

---

Definitions:

Franchise Agreement

A legal contract between a franchisor and franchisee, establishing the terms and conditions for the franchisee to operate a franchised business.

Discontinuance

The cessation or closure of a product, service, or business operation.

Viable Way

A method or approach that is feasible and capable of working successfully.

Limited Capital

Restricted financial resources available to a business for investment and operational needs.