Which of the following best fits the definition of unemployed?
A) retired and not working
B) working less than a full work week
C) not working but looking for a job
D) not working at a gainful pursuit, either in or out of the home
C
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Suppose Ariana deposits $75,000 in her bank. If the reserve ratio is 20 percent, this will lead to a maximum increase of ________ in checking account balances throughout all banks
A) $15,000 B) $375,000 C) $750,000 D) $1,500,000
In the European Union, resale price maintenance is generally illegal is the selling firm has more than a ________ percent market share of the product being sold or the buying firm makes more than a ________ percent market share of the product purchases.
A) 30; 30 B) 50; 50 C) 30; 50 D) 50; 30
The demand curve a monopolist faces is
A) horizontal. B) the industry demand curve. C) vertical. D) inelastic at all points.
The optimal level of output may be defined as that level of output where:
a. the marginal benefit of the last unit purchased equals its marginal cost. b. total benefit equals total cost. c. it is impossible to define optimal in any meaningful way. d. average benefit exceeds average cost by the greatest amount. e. marginal benefit exceeds marginal cost by the greatest amount.