If there are powerful unions in a labor market, the use of the supply-and-demand model to analyze labor markets
A. will cause you to believe that fewer people will be hired than will be.
B. will cause you to believe that more people will be hired than will be.
C. is completely accurate.
D. will cause you to believe the wage will be lower than it is.
Answer: B
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Which of the following is likely to increase measured GDP?
A) Tax rates increase and more people attempt to underreport their income for tax purposes. B) More people decide to do their own lawn maintenance and give up using a professional service. C) Marijuana becomes legal to grow and sell. D) A greater number of women decide to stay at home and provide day care for their children under age 5.
For which of the following products would price discrimination be easiest?
a. orange juice b. diamonds c. compact disks d. haircuts e. gasoline
Diseconomies of scale exist for all of the following reasons except:
a. bureaucratic inefficiencies. b. management problems. c. failures in information flows. d. firm size is too small. e. organizational problems.