Assume that this graph illustrates a perfectly competitive labor market.
If the supply of person-hours in this market shifts to the right, then the equilibrium wage will ________ and the equilibrium number of person-hours will ________.
A. fall; decrease
B. increase; increase
C. fall; increase
D. stay the same; increase
Answer: C
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The net exports effect is the ____ relationship between net exports and the price level of an economy
a. inverse b. independent c. direct d. linear
Which of the following statements about venture capital firms is FALSE?
A. Most start-up companies that acquire venture capital eventually turn out to be successes. B. Venture capital firms invest in high-risk, high-potential firms. C. Venture capital firms get most of their capital from pension funds, large university endowments, and other institutions that can take substantial risks with a small portion of their funds. D. Companies that acquire their funds from venture capital firms may initially have trouble acquiring capital from other channels.
Dynamic and static games have outcomes that
A) may be different. B) are always different. C) are not Nash equilibria. D) result from dominant strategies.
Suppose a previously competitive labor market turns into a monopsony. The labor supply curve faced by the new monopsonist is
a. above the labor supply curve under perfect competition b. the market supply curve of labor c. below the labor supply curve under perfect competition d. changed because workers are now more willing to supply labor e. perfectly horizontal