A monopolist will hire fewer workers than a perfectly competitive firm because
A) the marginal product curve decreases as additional units of labor are hired for a monopoly but not for a competitive firm.
B) there is a variety of employers in a competitive market and only one in a monopoly.
C) marginal revenue is greater than price for a monopoly while marginal revenue is equal to price for a competitive firm.
D) to sell an additional unit of the good the competitive firm will keep the price the same while the monopolist must lower it on all units sold.
D
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If we wanted to describe unemployment in terms of supply and demand, we could say:
A. the quantity of those demanding labor is greater than those supplying labor. B. there is a surplus of labor. C. at the prevailing wage, the demand is greater than the supply of labor. D. All of these are true.
Economists say that long-run economic growth is almost entirely due to:
A. rising productivity. B. population growth. C. a democratically elected government. D. a balanced budget.
Suppose there is a reduction of the return provided on U.S. Treasury bonds. We should expect the current price of stocks to:Ptoday = 
A. increase since the risk premium on the stocks will increase. B. stay the same; there is no effect on stock prices from this reduction. C. decrease since U.S. Treasury bonds are safer. D. increase since the risk-free return is now lower.
What has been the market outcome of government-enforced price floors for agricultural products?
A. A shortage of agricultural products has resulted. B. Not enough food has been produced. C. Farmers have been made worse off. D. A surplus of agricultural products has resulted.