The portion of the short-run aggregate supply that reflects the economy's resources are not fully employed is the:
A) vertical portion.
B) horizontal portion.
C) upward sloping portion.
D) none of the above.
B
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The creation of the Social Security program caused a decrease in the labor force participation rate.
Answer the following statement true (T) or false (F)
Authors are allowed to be monopolists in the sale of their books in order to
a. promote a society in which people think for themselves and learn from whichever books they please. b. correct for the negative externalities that the Internet and television impose. c. satisfy literary advocacy groups that exercise their lobbying power. d. None of the above is correct.
Why is a monopsony a negative situation for a worker?
a. Wages are lower than in a competitive labor market. b. Their workplace is not in a convenient location. c. Increased hiring causes workplace overcrowding. d. They have better options for employment nearby.
Refer to the accompanying figures. If Mallory and Rick are the only two consumers in this market and the price of soda is $0.75 per can, then what will be the market demand for soda each month?
A. 70 B. 50 C. 20 D. 30