The unemployment rate will decrease whenever there is a(n) _____
a. increase in the number of persons classified as unemployed
b. decrease in the number of unemployed persons relative to the size of the labor force
c. decrease in the size of the population and no change in the number of persons classified as employed
d. reduction in the size of the labor force
e. decrease in the number of unemployed persons and no change the population
b
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Which of the following is true? a. Price leadership is a form of explicit collusion
b. Price leadership is more likely when there are a substantial number of roughly equally sized firms in oligopoly. c. A price leader is most likely to be a dominant firm in an industry. d. None of the above is true.
Recall some historical facts from the chapter: Which of the following firms grew primarily through vertical mergers?
a. Exxon b. American Can c. General Electric d. Anheuser-Busch e. American Tobacco
Suppose the numbers in parentheses represent two points on a line: (59 billion quarts; $4) and (78 billion quarts; $6). The line is most likely a
a. production possibilities frontier for milk. b. supply curve for milk. c. demand curve for milk. d. ray through the origin. e. time series line.
Buying a cup of coffee with a dollar bill represents the use of money as a