Which of the following was not a reason why wages in the US increased during World War I?
a. A sharp decrease in immigration during the war.
b. A large increase in drafting men into the armed forces.
c. A large increase in the number of government contracts.
d. A large increase in the number of women who were employed in the labor market.
d. A large increase in the number of women who were employed in the labor market.
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Which of the following statements is TRUE?
A) Perfectly competitive markets are efficient, but monopoly markets never are efficient. B) Perfectly competitive markets always reach equilibrium but monopoly markets never reach equilibrium. C) Perfect price discriminating monopolists can eliminate all deadweight losses and achieve efficiency. D) All the above statements are true.
Assuming no bequests, with a real rate of interest of 10 percent, wealth of $60,000, current income of $70,000, future income of $180,000 and future consumption of $158,000, current consumption must equal ________
A) $158,000 B) $150,000 C) $152,000 D) $130,000
GoFresh and Heptol are leading shower gel producers in a market. The two firms are large enough to cover almost the entire market demand. A new firm that is comparatively smaller wants to enter the market. In the given scenario, which of the following statements is most likely to be true? a. The new firm cannot enter the market because it does not fulfill the legal requirements
b. The new firm cannot enter the market because its product is not liked by the consumers. c. The new firm cannot enter the market because it is technologically difficult for it to produce shower gel. d. The new firm cannot enter the market because it is too small to spend a considerable amount of money on advertising.
Look at the following data: GDP = $11,920 billion; investment = $2,100 billion; exports = $500 billion; government purchases = $1,450 billion; consumption = $8,500 billion. What does import spending equal?
A) $630 billion B) $370 billion C) $1,320 billion D) $430 billion E) $474 billion