If an unemployed person quits looking for work, then, eventually the unemployment rate
a. decreases, and the labor-force participation rate is unaffected.
b. and the labor-force participation rate both decrease.
c. is unaffected, and the labor-force participation rate decreases.
d. and the labor-force participation rate are both unaffected.
b
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By setting MR = MC, a competitive firm decides to sell 100 units when the market price is $20. The average cost of producing the 100 units is $18 per unit. If the firm has fixed costs of $500, then the firm should
a. shutdown b. expand production c. exit the industry d. increase their price
If inflation is a threat, then the Fed will be expected to engage in
A) expansionary monetary policy. B) contractionary monetary policy. C) policies to increase the money supply. D) policies to lower the rate of interest.
Why did American colonists have trouble redeeming Continentals, representative money backed by the Second Continental Congress?
(A) There was a shortage of gold and silver. (B) The government had no power to collect taxes. (C) Colonists preferred to use bills issued by the Massachusetts Bay Colony. (D) They were thought to be a symbol of central government control.
The entry of an additional firm into a market shifts the demand curve for the original firm to the left.
Answer the following statement true (T) or false (F)