Agriculture is an example of
A) perfect competition.
B) oligopoly.
C) monopoly.
D) monopolistic competition.
A
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If the number of employed workers in an economy is 4 million, the number of unemployed people in the economy is 2 million, and the number of adults not in the labor force is 1 million, the potential adult workers in the economy is:
A) 2 million. B) 6 million. C) 1 million. D) 7 million.
When wages or benefits are automatically increased based on the reported inflation rate, it is called the ________ adjustment
A) cost-of-living B) change in imports C) natural flow of money D) change in exports
Given the market demand and cost data in the above figure, the existence of a monopoly firm producing 8 million cubic feet of natural gas makes it possible to produce natural gas at a long-run average cost of
A) 10 cents per cubic foot. B) 20 cents per cubic foot. C) 30 cents per cubic foot. D) 40 cents per cubic foot.
If the Federal Reserve increases the money supply, then initially people want to
a. sell bonds so the interest rate rises. b. sell bonds so the interest rate falls. c. buy bonds so the interest rate rises. d. buy bonds so the interest rate falls.