If a perfectly competitive firm raised the price of its product,
A) its profits would increase.
B) the quantity of output it sells decreases to zero.
C) rival firms will follow suit and raise their prices also.
D) the firm will be forced to advertise more.
E) its total revenue would rise but its total cost would rise by more.
B
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Most economists estimate that the U.S. factor of production most likely to be hurt by the formation of the NAFTA is unskilled U.S. labor
Indicate whether the statement is true or false
"Discouraged workers" are officially considered ________ the labor force and ________
A) in, unemployed B) in, not unemployed C) not in, unemployed D) not in, not unemployed
In a large open economy, what is the source of the demand for loanable funds?
A. Net foreign investment and investment B. National saving and investment C. Investment D. Net foreign investment
A decline in the minimum wage rate offered for janitorial services will cause: a. the labor supply curve to shift rightward
b. the labor supply curve to shift leftward. c. a downward movement along the labor supply curve. d. an upward movement along the labor supply curve.