Contestability of markets depends crucially upon
a. the nationalization of these markets
b. large economies of scale
c. strong brand loyalty for existing firms
d. the presence of natural monopoly
e. the ability of new firms to enter the market
E
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Economic growth in Latin America between 1960 and 2011 is best summarized as
A) a remarkable success. B) an abject failure. C) a mixed record. D) a noteworthy attempt.
________ in the expected future domestic exchange rate causes the demand for domestic assets to shift to the right and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
If the government were to intervene and set a wage for unskilled labor above the market wage, then we would expect, relative to the market outcome,
a. an increase in the number of unskilled jobs available. b. a decrease in the number of unskilled jobs available. c. a decrease in the number of workers wanting unskilled jobs. d. None of the above is correct.
Frictional unemployment refers to:
A. people who are out of work and have no job skills. B. short periods of unemployment needed to match jobs and job seekers. C. people who spend relatively long periods out of work. D. unemployment related to the ups and downs of the business cycle.