Hourly wages of employees not under guaranteed contracts would be an example of __________ costs.
Fill in the blank(s) with the appropriate word(s).
variable
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A point outside the production possibilities frontier
a. represents unemployment of resources b. represents full employment of resources c. would not represent an efficient combination of goods d. cannot be reached using the available technology e. is less desirable than one that lies inside the frontier
It is not true in the long run of monopolies that
a. other firms seeking positive economic profit enter the market. b. they earn positive economic profit. c. they sell their output at a price greater than marginal cost. d. they benefit from barriers to entry.
One of President Obama's first fiscal policy initiatives was a. ARRA. b. TARP
c. QE1. d. QE2.
If a monopolistically competitive firm is suffering losses in the short run:
A. the exit of competing firms will cause price to drop, but not affect the firm's demand curve. B. the exit of competing firms will shift the firm's demand to the right. C. the exit of competing firms will shift the firm's demand to the left. D. the exit of competing firms will cause price to rise, but not affect the firm's demand curve.