In the classical view, all markets clear, except the labor market
a. True
b. False
B
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A discouraged worker is defined as
A) someone who is working at a job he dislikes. B) someone who is overqualified for the job she currently holds. C) someone who would like to work full time but is only working part time. D) someone who has given up actively looking for a job after an extended period of unemployment.
A measure of the average price level for GDP is called the:
A. aggregate price level. B. national price level. C. economy price level. D. total price level.
Which of the following is true for a monopolist that does not price discriminate?
a. P > MR because some revenue is lost from having to lower the price on all units sold b. P < MR because the monopolist must lower price to sell more output c. P = MR only at the profit-maximizing level of output d. P = MR because there are no close substitutes for the good e. P = MR because the firm faces a perfectly elastic demand curve
International variables are linked through trade and financial flows. Therefore, what trilemma is faced by a nation that wishes to keep its exchange rates with other nations fixed?
a. It can have fixed exchange rates only when it allows free flows of capital and maintains control of its interest rates. b. It cannot have fixed exchange rates if it does not restrict foreign investment and also wants to control its own monetary policy. c. Fixed exchange rates are not possible if the nation allows free flows of capital both into and out of the nation. d. Fixed exchange rates are not possible if the nation also wants to control its monetary policy.