Including discouraged workers in the calculation of the unemployment rate would
A) not change the reported rate.
B) increase the reported rate.
C) change the reported rate, but in an unpredictable manner.
D) lower the reported rate.
B
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The situation when the price of most goods and services are falling over time is called:
A. disinflation. B. a boom. C. deflation. D. inflation.
Refer to Figure 8.1. This situation represents a
A) pure coordination game. B) prisoner's dilemma game. C) chicken game. D) battle of the sexes game.
Predatory pricing
A) is extremely hard to document in the U.S. economy today. B) is most often practiced in the retailing industry. C) is not legal under U.S. law but is regularly practiced by foreign firms competing in the United States. D) is principally responsible for the decline of competition in the oil industry.
If a competitive firm's marginal profit is positive at an output of 1000 units,
A) at 1000 units, MR = MC. B) it should produce more than 1000 units. C) it should produce less than 1000 units. D) at 1000 units, MR < MC.