The "high-tech revolution" grew out of many tiny start-up operations. This is an argument that more technological change occurs in ________ market structures.
A. oligopolistic
B. monopoly
C. more competitive
D. duopoly
Answer: C
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When the price of Gatorade is $2 per bottle, the quantity demanded is 500 bottles per at the local grocer. When the price falls to $1 per bottle, the quantity demanded increases to 1000. Given this information, the demand for Gatorade is
A) inelastic. B) elastic. C) unit elastic. D) perfectly elastic.
A movement along a demand curve may be caused by a change in
A) the non-price determinants of demand. B) the change in consumer expectations. C) the change in demand. D) the change in supply.
Social Security contributions are
A) a voluntary dollar amount that people contribute towards Social Security. B) entirely paid by your employer. C) mandatory taxes partially paid out of workers' wages and salaries. D) collected only from people earning more than $120,000 a year.
Which of the following best describes labor force participation rates for men and women over the period 1960 to 2000?
A. Labor force participation rates for both men and women increased. B. Labor force participation rates for both men and women decreased. C. Labor force participation rates for men increased while labor force participation rates for women decreased. D. Labor force participation rates for men declined while labor force participation rates for women increased.