Ball found that an important factor affecting the sacrifice ratio is
A. the tightness of fiscal policy.
B. the real interest rate.
C. the flexibility of the labor market.
D. the shape of the yield curve.
Answer: C
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Which of these is a key difference between a perfectly competitive firm and a monopolistically competitive firm?
a. A monopolistically competitive firm faces a downward-sloping demand curve, while a perfectly competitive producer faces an upward-sloping demand curve. b. A monopolistically competitive firm has no control over the market price, while a perfectly competitive firm has some control over the market price. c. A monopolistically competitive firm faces a horizontal demand curve, while a perfectly competitive producer faces a downward-sloping demand curve. d. A monopolistically competitive firm has some control over the market price, while a perfectly competitive firm has no control over the market price.
In the above diagram, total product will be at a maximum at:
A. Q2 units of labor B. Q3 units of labor C. Q1 units of labor D. some point that cannot be determined with the above information.
A demand curve
A) slopes down because of the inverse relationship between price and quantity demanded. B) slopes up because of the direct relationship between price and quantity demanded. C) can slope up or down depending on the tastes of the consumer. D) is vertical for necessities, upward sloping for luxury goods, and downward sloping for all other goods.
What is one reason a gift card might be less desirable than cash?
A) A gift card requires an individual to purchase from a particular store, which restricts the choice set. B) Cash requires an individual to purchase from a particular country, which restricts the choice set. C) Cash and the gift card are equally desirable, there is no problem here. D) Gift cards are easier to steal or lose relative to cash.