In economic theory, an unemployment rate of _________ considered desirable
a. 5 percent or less
b. 9 to 10 percent
c. Under 12 percent
d. 18 percent
A
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Which of the following is not one of the assumptions of a perfectly competitive market?
A) Better information for producers than consumers. B) Homogeneous product. C) Free entry and exit. D) Large number of buyers and sellers.
Assuming a 10-percent decrease in both the nominal (money) wage and the price level in the classical model, then the quantity of labor supplied will
a. also decrease by 10 percent. b. increase by 10 percent. c. remain constant. d. decrease by less than 10 percent.
In the open-economy macroeconomic model, if the supply of loanable funds shifts right, then
a. the supply of dollars in the market for foreign-currency exchange shifts left. b. the supply of dollars in the market for foreign-currency exchange shifts right. c. the demand for dollars in the market for foreign-currency exchange shifts left. d. the demand for dollars in the market for foreign-currency exchange shifts right.
Antitrust enforcement focuses on market structure, while government regulation deals with all of the following except
A. Output. B. Perfect competition. C. Profits. D. Prices.