Distinguishing between stock measures and flow measures, the flow measures are
A) the labor force only.
B) the number of people who lost their jobs and the number of people who found jobs only.
C) the total number of people who are unemployed only.
D) the total number in the labor force and the total number of people who are unemployed only.
B
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The Coase theorem
A. shows that under certain conditions the market can internalize externalities. B. states that economic units should specialize in the production of those goods in which they have a comparative advantage. C. asserts that the firm should produce that output at which marginal cost is equal to marginal revenue. D. holds that the firm should produce that output at which marginal factor cost is equal to marginal revenue product.
First-degree and second-degree price discrimination are similar in each of the following ways except which one?
A) They both convert all possible consumer surplus into additional economic profit. B) In both practices, firms earn greater economic profit than if they charged a single price for every unit. C) In both practices, firms produce more than if they charged a single price. D) In both practices, consumers pay higher prices for the first units that they buy.
A profit-maximizing monopoly will always produce at the minimum point of its average total cost (ATC) curve
a. True b. False
Choose the letter of the diagram in Figure 36.2 that represents the shift in the foreign exchange market for dollars given the following situation, ceteris paribus: A sudden, unexpected surge in inflation in the United States causes reduced purchases of U.S. goods by foreigners.
A. a. B. b. C. c. D. d.