According to Shepherd, which of the following represent a primary cause of the rising competitive trend in U.S. industries between 1958 and 2000?
a. Collusion
b. Regulation
c. Antitrust policy
d. Mergers
c
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According to the classical model
A) long-term unemployment is unavoidable. B) unemployment is a temporary phenomenon. C) unemployment only exists during periods of war. D) the natural rate of unemployment is zero.
An appreciation of the Japanese yen would shift the Japanese aggregate demand curve inward
a. True b. False Indicate whether the statement is true or false
Assume the price of gasoline doubles tonight and remains at that price for the next two years. Compared with the long-run price elasticity of demand for gasoline, the short-run price elasticity of demand for gasoline will be ________:
A. lower B. the same C. higher D. more variable
The monopsonistic exploitation of labor refers to
A) the reduction in total output from monopoly in the product market. B) the union wage differential. C) workers being paid a wage less than their marginal revenue product. D) the reduction in employment resulting from union wage setting.