Labor productivity typically rises when ________
Fill in the blank(s) with the appropriate word(s).
Ans: average worker output rises
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Economists began to lose confidence in the Phillips curve during the
Which school of economic thought is most closely associated with calls for monetary rules to guide monetary policy decisions?
a) The Monetarist school b) The Classical school c) The Keynesian school d) The Austrian school
An important difference between a perfectly competitive firm and a monopolist is
A. the shape of the demand curve each faces. B. the goals of the owners of the firms. C. the size of the firms. D. a monopolist normally produces a service, while a perfect competitor normally produces a good.
All of the following can create an oligopolistic structure EXCEPT
A. government licensing rules. B. economies of scale. C. low barriers to entry. D. mergers.