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. What is the economic welfare loss from having a monopoly instead of a perfectly competitive industry supplying widgets?
A. $0
B. $4,000
C. $16,000
D. Indeterminate from the given information.
Answer: A
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Regarding the output growth slowdown during the 1970s and 1980s, it is true that
a. the slowdown took place in the U.S. but not other developing countries. b. the primary determinant of the slowdown was lower labor productivity growth. c. increases in capital formation did not offset some of the slowdown in labor productivity growth. d. both b and c.
Which of the following correctly describes an aspect (or aspects) of the U.S. experience with affirmative action?
a. The Civil Rights Act of 1964 made it a felony for any private firm to employ a smaller percentage of minority workers than their overall percentage of the general population. b. All companies doing business with the federal government are required to set numerical hiring, promotion, and training goals to ensure that these firms did not discriminate in hiring based on race, sex, religion, or national origin. c. In 1989 the U.S. Supreme Court ordered Richmond, Virginia, to enact set-aside programs to reserve 30 percent of all construction work for minorities. d. The firms doing business with the federal government are allowed to discriminate in hiring based on race, sex, religion, or national origin.
In an article regarding Bangladesh's economy, the author suggests that the government give tax breaks on investment dollars, research and development, and donations to educational institutions. As a result of enacting the policies, the AE curve will shift __________ and the AD curve will shift __________.
a) upward; leftward b) upward; rightward c) downward; rightward d) downward; leftward
A vertical FE curve indicates perfect capital mobility.
Answer the following statement true (T) or false (F)