A monopolist's price is "less than fair value" when it sells in export markets at prices ________ prices in its domestic markets or at prices _________ its average costs of production.
a. above; above
b. above; below
c. below; above
d. below; below
Ans: d. below; below
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The labor force participation rate is
a. the portion of the working-age population that is actively in the labor market b. the portion of the labor force that is employed c. the portion of the working-age population that is working d. the portion of the working-age population that would work if jobs were available e. none of the above
What will happen if Kenya’s population grows faster than its output?
a. Its per capita output will fall. b. Its per capita output will rise. c. Its per capita output will fall, then rise. d. Its per capita output will be stable.
Unemployment is a:
A. lagging indicator, because the business cycle follows it. B. lagging indicator, because it follows the business cycle. C. leading indicator, because the business cycle follows it. D. leading indicator, because it follows the business cycle.
Assuming that bus travel is an inferior good, an increase in consumer income, other things being equal, will cause a(n):
A. upward movement along the demand curve for bus travel. B. downward movement along the demand curve for bus travel. C. rightward shift in the demand curve for bus travel. D. leftward shift in the demand curve for bus travel.