Which of the following would prevent a labor market from being classified as perfectly competitive?
a. It is difficult for new workers to enter the market.
b. All workers have the same abilities.
c. Exiting the market is easy for workers who are currently in the market.
d. Both buyers and sellers of labor are well-informed about market conditions.
e. Each firm hires only a tiny fraction of the total labor in the market.
A
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The amount of corruption that occurs in a government is hard to measure because:
A. its costs are mostly indirect and nearly impossible to measure. B. it is illegal, and therefore hidden. C. the benefits subtracted from the costs often go to a small number of people and distort the reality. D. All of these are true.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.
The money supply is $12.5 million, currency held by the nonbank public is $2.5 million, and the reserve-deposit ratio is 0.25.(a)What is the quantity of bank deposits?(b)What is the quantity of bank reserves?(c)What is the quantity of the monetary base?(d)What is the money multiplier (give a number)?
What will be an ideal response?
Refer to the information provided in Figure 13.11 below to answer the question(s) that follow.
Figure 13.11Refer to Figure 13.11. Suppose a monopolist faces the demand and costs in the figure and is able to perfectly price discriminate. How much profit does the monopolist earn?
A. $0 B. $16,000 C. $32,000 D. Indeterminate from the given information.