Which of the following is NOT one of the Fed's monetary policy tools?
A) last resort loans
B) the required reserve ratio
C) the income tax rate
D) buying and selling U.S. government securities
C
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Zero economic profits would most likely exist in which market environment?
A) Pure monopoly B) Oligopoly C) Perfect competition D) Any market structure riddled with uncertainty E) None of the above.
A macroeconomist would concentrate on which of the following issues?
a. the price of pizzas b. the profits of the IBM Corporation c. the unemployment rate in Germany d. the market for hot dogs
Assuming a competitive labor market, the marginal revenue product of labor: a. is the ratio of the output price and the extra output produced by an additional unit of labor. b. is always equal to one
c. is used to calculate the cost of labor to a firm. d. is equal to the value of the marginal physical product of labor.
Give a few examples of how sectoral shifts temporarily cause unemployment