Large increases in the availability of labor would likely be a source of
A. import competing growth.
B. generalized growth.
C. specialized growth.
D. concentrated growth.
Answer: B
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Refer to Figure 26-1. In the figure, the money demand curve would move from Money demand1 to Money demand2 if
A) the interest rate increased. B) the price level decreased. C) real GDP increased. D) the Federal Reserve sold Treasury securities.
A monopoly firm operates with declining marginal cost. If regulators impose marginal cost pricing, the market will
a. remain a monopoly but behave like a perfectly competitive industry. b. become perfectly competitive. c. be entered by additional firms but will not necessarily become perfectly competitive. d. be exited by the existing firm if the regulators will let the firm leave the market.
Government payments made to ________ firms in order to encourage ________ are called subsidies.
A. domestic; exports B. domestic; imports C. foreign; imports D. foreign; immigration
Suppose you were to hear a politician oppose the minimum wage on the grounds that it would hurt employers and employees more than it would help those who earned a higher wage, you would know this person to be relying on the ________ argument.
A. work effort B. elasticity C. consumer and producer surplus D. macroeconomic