Assuming all else equal, if firms expect the demand for their products to increase in the near future, ________
A) their labor supply curve will shift to the right. B) their labor demand curve will shift to the left.
C) their labor supply curve will shift to the left. D) their labor demand curve will shift to the right.
D
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In the long run, a perfectly competitive industry is allocatively efficient because
a. the opportunity cost of resources needed to produce the last unit of output just equals the marginal value to consumers of the last unit b. it maximizes producer surplus c. consumer surplus could be larger if the price were lower d. production occurs at the lowest average total cost e. marginal costs are low
If a permanent drop in demand causes a monopolist to earn below-normal profits in the long run, this monopolist
a. will always exit the market in the long run b. will be forced by the government to continue operating in the long run c. may continue operating in order to avoid alienating its customers d. will exit the market in the long run only if it cannot cover its fixed costs e. will use limit pricing to reduce the size of its loss
Open market sales of bonds by the Federal Reserve reduce the money supply and
a. reduce aggregate expenditures b. increase real aggregate expenditures c. are helpful in monetizing the federal debt d. stimulate purchases of consumer durables e. stimulate spending at many levels
Conglomerate mergers provide each firm in the merger with some security against high industry risk. If one part of the merged firm suffers losses because of weak market demand,
a. the losses can be hidden in accounting techniques due to the larger and more complex nature of the company b. it can quickly get rid of the weak part of the conglomerate by selling off the assets c. other firms in the industry that did not merge with unrelated firms will have losses also d. the merger will have been proven to be a failure e. the merged firm will suffer but its impact on the firm will be more moderate than it would have been on the non-merged firms in the weak-market industry