The Friedman natural rate theory holds that there is an inverse relationship between inflation and unemployment in the long run, but not in the short run
Indicate whether the statement is true or false
False
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Consider a worker who dislikes working end enjoys consuming a composite good. With labor hours on the horizontal and the composite consumption good on the vertical axis, which of the following statements are true.
A. If the worker's tastes are convex, the slope of indifference curves increases as we move to the right in the graph. B. The worker becomes better off as we move to the northwest in the graph. C. A tax on wage income does not change this worker's indifference map. D. All of the above. E. None of the above.
Overuse of a common resource may be avoided by all of the following methods except
A) charging for the use of a common resource. B) government taking over ownership of all private common resources. C) setting quotas or legal limits on the quantity of the common resource consumed. D) issuing tradable permits for the use of a common resource.
If the monopolist facing the demand curve P = 10 - Q is a perfectly discriminating monopolist and marginal cost is constant at $4, how much will the firm sell if it profit maximizes? 
A. 6 B. 4 C. 5 D. 10
Which of the following statements is NOT true for a perfectly competitive firm?
A. The market demand and supply curves determine the market price. B. The firm's demand curve is perfectly elastic. C. The firm can influence its demand curve by advertising its product. D. A firm's demand curve is horizontal.