When people speak of the labor force participation rate, they are actually talking about the percentage of
a. people not working but actively seeking work.
b. people who are working.
c. new entrants into the labor force.
d. working-age people who are either working or seeking work.
D
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The fixed fee a firm is able to charge as part of a two-part pricing strategy is inversely related to the amount of consumer surplus the customer realizes at the profit-maximizing level of output
Indicate whether the statement is true or false
In determining whether a market meets the conditions for perfect competition, it is necessary to
A. consider the number of firms in the market. B. determine the appropriate size of the firm. C. assess the production technology available to firms. D. evaluate the promotional tools that can be used by firms.
If the MPC = 0.80, the total change in spending resulting from an initial $500 decrease in aggregate spending will be
A. $800. B. $2500. C. $300. D. $833.
At a given output level, a temporary reduction in government purchases will
A. increase desired saving, causing the IS curve to shift down and to the left. B. increase desired saving, causing the IS curve to shift up and to the right. C. decrease desired saving, causing the IS curve to shift up and to the right. D. decrease desired saving, causing the IS curve to shift down and to the left.