In long?run equilibrium for a monopolistically competitive industry, ________ firms earn ________ economic profits.
A. no; zero
B. some; negative
C. no; positive or negative
D. some; positive
Answer: C
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Over the last 50 years, U.S. labor productivity grew the fastest during the ________ because of ________
A) 1990s; advancements in healthcare due to the unlocking of the human genome B) 1980s; the invention of the computer and the oil embargo C) 1970s; an increase in government taxes and expanded regulations D) 1900s; the war on terror and return to the basics of education E) 1960s; fast paced technological change and large increases in human capital accumulation
What would a leftward shift of the labor demand curve indicate?
a. Firms want to hire more workers than before at any given wage than before. b. Firms want to pay a higher wage than before at any given level of employment. c. Households want to supply fewer hours of work than before at any given wage rate. d. Firms want to hire fewer workers than before at any given wage rate. e. Households want to supply more hours of work than before at any given wage rate.
If mining companies are indifferent between operating and not operating a quarry, that quarry is
A. discounted. B. usurious. C. marginal. D. nonexcludable.
The country with the highest child poverty rate in the industrial world is __________.
Fill in the blank(s) with the appropriate word(s).