As the electronic components industry expands, the salaries paid to electrical engineers rise in response to higher demand. We can conclude that the electronic components industry is:
a. a constant-cost industry.
b. an increasing-cost industry.
c. a decreasing-cost industry.
d. a marginal-cost industry.
b
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In the economic way of thinking, capital contributes to
A) the exploitation of labor. B) wealth. C) greed. D) macroeconomic inefficiency. E) none of the above.
If a monopolist could sell 5 units at $6 and 6 units at $5: a. marginal revenue for the 6th unit is $5
b. marginal revenue for the 6th unit is zero. c. demand is unit elastic over that range of prices. d. both (b) and (c) are true.
The unemployment rate measures the number of unemployed people expressed as a percentage of the total population
a. True b. False Indicate whether the statement is true or false
During a period of economic depression, such as has existed for a long period in Japan, a profit-oriented bank will act in such a way that
a. dampens the fluctuations. b. makes the depression worse. c. is neutral with respect to the fluctuations. d. is counter-cyclical and stabilizing.