Which of the following is not a correct characterization of the U.S. business cycle?
A) Employment is procyclical.
B) Consumption is procyclical.
C) Real wages are procyclical.
D) Prices are procyclical.
D
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Which of the following is an example of a monopolistically competitive market?
A) The market for wheat B) The market for coffee beans C) The market for shampoo D) The market for premium cars
The total costs of federal regulation
A) encompasses only explicit costs of satisfying regulatory demands. B) also includes the explicit costs associated with regulations issued by 50 different state governments. C) encompasses only opportunity costs of satisfying regulatory demands. D) encompasses both explicit and opportunity costs of satisfying regulatory demands..
Which of the following best illustrates a perfectly competitive market?
a. Soft drinks. b. Automobiles. c. Electric power. d. Soybean farmers.
Why have the earnings of persons with less education (and skill) fallen relative to those with more education (and skill)?
a. more regulation of the transport industry b. more powerful unions c. international competition d. all of the above