Critics of globalization argue that international trade agreements represent roadblocks to democratic decision making, because power is decentralized from large international institutions to the local communities in the process
a. True
b. False
Indicate whether the statement is true or false
False
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In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced
a. both structural unemployment and the natural rate of unemployment. b. structural unemployment but not the natural rate of unemployment. c. both frictional unemployment and the natural rate of unemployment. d. frictional unemployment but not the natural rate of unemployment.
Which of the following statements regarding perfect price discrimination is false?
A. Perfect price discrimination yields the same market price and output result as perfect competition. B. Perfect price discrimination is charging different prices to different buyers. C. Perfect price discrimination is an attempt by monopolists to capture consumer surplus as profit. D. Perfect price discrimination can eliminate the deadweight loss to society of a monopoly.
What does the aggregate demand curve show? What factors change and what factors remain the same when there is a movement along the aggregate demand curve?
What will be an ideal response?
An implicit cost is defined as:
A) the opportunity cost of using a resource that is not explicitly paid out by the firm. B) the difference between an input's explicit cost and its actual cost. C) the amount by which economic profit exceeds accounting profit. D) the amount by which the money spent on an input to production exceeds its opportunity cost.