All of the following are examples of oligopolistic markets except
A) the broadcasting industry.
B) aircraft manufacture.
C) college bookstores.
D) seafood restaurant chains.
Answer: D
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The wage rate. is the price of a unit of labor. What happens to the supply of labor if the wage rate increases?
A. It increases. B. It decreases. C. It does not change. D. Uncertain-economic theory has no answer to this question.
The net national debt is smaller than the gross national debt because
a. some debt is held by foreigners. b. some debt is held by U.S. citizens. c. some debt is held by government agencies. d. the government does not have to pay all of the debt.
Consider a good to which a per-unit tax applies. The greater the price elasticities of demand and supply for the good, the
a. smaller the deadweight loss from the tax. b. greater the deadweight loss from the tax. c. more efficient is the tax. d. more equitable is the distribution of the tax burden between buyers and sellers.
Assume that a firm's interest-rate cost-of-funds curve for R&D is perfectly elastic. Which of the following would decrease a firm's optimal R&D expenditures and, in equilibrium, increase the expected rate of return on the last dollar of R&D?
A. A rightward shift of the expected-rate-of-return curve. B. An upward shift of the interest-rate cost-of-funds curve. C. A leftward shift of the expected-rate-of-return curve. D. A downward shift of the interest-rate cost-of-funds curve.