In Figure 45.4, it is clearly the case that 
Figure 45.4
A. the total amount paid to workers is greater under perfect competition than unionization.
B. every individual worker is better off under unionization than perfect competition.
C. every individual worker is better off under perfect competition than unionization.
D. the total amount of labor employed is greater under perfect competition than unionization.
Answer: D
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Which of the following statements about the importance of trade to the U.S. economy is false?
A) The U.S. economy is highly dependent on international trade for growth in its gross domestic product. B) Overall, about 20 percent of U.S. manufacturing jobs depend directly or indirectly on exports. C) The United States is the second largest exporter in the world. D) Since 1970, both exports and imports have steadily increased as a fraction of U.S. gross domestic product.
If a firm in monopolistic competition lowers its price, what will happen to the quantity of products it sells?
a. The quantity of products sold will increase and sales revenue will fall. b. The quantity of products sold will decrease because this is not perfect competition. c. The quantity of products sold will increase slightly—and in some cases not at all. d. The quantity of products sold and sales revenues will increase as the firm lures customers from its competitors and attracts new customers.
An improvement in a firm's technology that improves productivity results in a(n):
A. leftward shift of the supply curve. B. upward movement along the supply curve. C. willingness to supply a larger quantity than before at any given price. D. downward movement along the supply curve.
In a perfectly competitive industry, an individual firm faces
A. a perfectly elastic labor supply curve. B. a perfectly inelastic labor supply curve. C. a perfectly vertical labor supply curve. D. none of these.