If a regulator forced a natural monopolist to set P = MC
A) the monopolist would earn economic profits.
B) the monopolist would suffer economic losses.
C) the monopolist would break even.
D) the monopolist would earn monopolistic profits.
B
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Government budget deficits
a. discourage household saving, which increases interest rates and reduces planned investment spending b. encourage household saving, which increases the funds available for planned investment spending c. reduce the demand for funds, lower interest rates, and increase planned investment spending d. discourage planned investment spending by putting upward pressure on interest rates e. stimulate economic growth by encouraging capital investment
Frictional unemployment refers to:
a. people who spend relatively long periods out of work. b. unemployment related to the ups and downs of the business cycle. c. people who are out of work and have no job skills. d. short periods of unemployment needed to match jobs and job seekers.
National income accounting is
A. used only to determine the government deficit. B. the system that measures the value of the Dow Jones average. C. how the amount of unemployment in the system is measured. D. an approach to measuring an economy's aggregate performance.
Wages and salaries (including wage supplements) accounted for ________ of personal income in the United States in 2017.
A. 37% B. 50% C. 63% D. 90%