When the Fed uses contractionary policy
A) the price level rises higher than it would if the Fed did not pursue policy.
B) the price level rises less than it would if the Fed did not pursue policy.
C) it does not change the price level.
D) it causes inflation.
Answer: B
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In a perfectly competitive market, there are
A) many buyers and many sellers. B) many buyers, but there might be only one or two sellers. C) many sellers, but there might be only one or two buyers. D) one firm that sets the price for the others to follow.
When people are separated into different jobs on the basis of sex, it is referred to as:
a. statistical discrimination. b. employer prejudice. c. worker prejudice. d. occupational segregation. e. occupational crowding.
Which of the following is true? a. According to the law of supply, the higher the price of the good, the greater the quantity supplied
b. An individual supply curve is a graphical representation that shows the negative relationship between the price and the quantity an individual is willing and able to supply. c. The market supply curve is the vertical summation of the individual firm supply curves. d. An increase in supply is illustrated by an upward shift in the supply curve.
A monopolist that can practice perfect price discrimination will not impose a deadweight loss on society
a. True b. False Indicate whether the statement is true or false