During the 2008 financial crisis, it became:
A. easier for individuals but harder for businesses to obtain loans.
B. harder for individuals but easier for businesses to obtain loans.
C. harder for both individuals and businesses to obtain loans.
D. easier for both individuals and businesses to obtain loans.
Answer: C
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The economy achieves full employment when the actual rate of unemployment equals the natural rate of unemployment
Indicate whether the statement is true or false
The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse but created jobs for telegraph operators and delivery persons. This is an example of
a. structural unemployment created by efficiency wages. b. structural unemployment created by sectoral shifts. c. frictional unemployment created by efficiency wages. d. frictional unemployment created by sectoral shifts.
Suppose a lazy monopolist's fixed costs are lower than the fixed costs of an efficient monopolist. In all other respects, the monopolists are the same. Which of the following statements about this monopolist is true?
A. It charges a higher price than the monopolist producing efficiently. B. It charges a lower price than the monopolist producing efficiently. C. It produces less than the monopolist producing efficiently. D. Its total revenue is the same as the monopolist producing efficiently.
A nondiscriminating pure monopolist finds that it can sell its 50 th unit of output for $50. We can surmise that the marginal:
A. cost of the 50 th unit is also $50. B. revenue of the 50 th unit is also $50. C. revenue of the 50 th unit is less than $50. D. revenue of the 50 th unit is greater than $50.