The market demand curve for a perfectly competitive industry is the horizontal summation of each individual firm's demand curve
Indicate whether the statement is true or false
FALSE
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If the demand for a monopolist's product increases, its
A) marginal revenue increases, making it more profitable to hire more workers. B) marginal revenue increases, making it more profitable to hire fewer workers. C) marginal revenue decreases, making it more profitable to hire more workers. D) marginal revenue decreases, making it more profitable to hire fewer workers.
Which of the following does not describe the historical patterns of unionization and strike activity in the United States?
A. Union membership did not change very much from 1900 to 1935. B. The percent of public sector employees who are in a union remained relatively constant from 1950 to 2010. C. The percent of workers involved in a strike has steadily decreased over the last 40 years. D. The percent of time lost to a strike has steadily decreased over the last 40 years. E. The percent of private sector employees who are in a union has steadily decreased over the last 40 years.
If the dollar fell by 35% relative to the other currencies, our current account deficit would
A. rise sharply. B. rise slightly. C. not be affected. D. fall sharply.
If the nominal interest rate is 5.6% and inflation rate is 2.4%, the real interest rate is ________
A) 4% B) 3.2% C) 6.4% D) 8%