The majority of new jobs created in the service sector of the U.S. economy have been in the information sector
a. True
b. False
Indicate whether the statement is true or false
True
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For a monopolist, changes in demand will lead to changes in
A) price with no change in output. B) output with no change in price. C) both price and quantity. D) any of the above can be true.
According to EPA estimates, compliance with pollution-control regulations cost U.S. producers and consumers more than what amount in 2012?
a. $100 billion b. $200 billion c. $300 billion d. $400 billion
Choose the correct statement.
A. The minimum wage results in decreased job search. B. An unregulated labor market cannot allocate the economy's scarce labor resources to the jobs in which they are valued more highly. C. The MSB from labor to workers is leisure foregone. D. In a labor market with an effective minimum wage, the MSB of labor is greater than its MSC.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower