If robotics and factory automation become more widespread in an industry and all else is held constant
A. the demand for labor should decrease in that industry and the wage rate should increase.
B. the demand for labor should increase in that industry and the wage rate should decrease.
C. both the demand for labor in that industry and the wage rate should decrease.
D. both the demand for labor in that industry and the wage rate should increase.
Answer: C
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Which of the following statements is not correct?
a. The government may use antitrust laws to prevent a merger if the government believes the merger will reduce competition and increase prices. b. By regulating a natural monopoly where price equals average total cost, the monopoly earns zero profits. c. An advantage of private ownership over public ownership is that private business owners tend to fire inefficient managers. d. The government should always intervene to improve monopoly inefficiency.
Refer to the accompanying table below. The average benefit of 4 units of activity is:Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $9 B. $4 C. $5 D. $10
If aggregate demand shifts inward over a long period of time, with aggregate supply held constant, the economy should experience
A. unemployment. B. budget surpluses. C. stagflation. D. inflation.
What does the antitrust exemption give professional baseball team owners that owners of other professional teams don't have?
A. higher gate receipts B. wider marketing areas C. longer contracts with the players D. leverage over the cities in which they operate