Discouraged workers are discouraged because
A) their employers continue to underpay them.
B) they are working part-time, but they want full-time work.
C) they don't have jobs and are pessimistic about their chances of finding a suitable job.
D) their employers are too demanding.
C
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The Sherman Act makes it illegal to
A) increase market share. B) merge firms in the same industry. C) attempt to monopolize an industry. D) price below competitors.
In the Keynesian model, suppose the Fed sets a target for the real interest rate. If the IS curve shifts to the left, and the Fed wants to keep output unchanged
A) taxes will increase. B) the money supply will decline. C) the real interest rate will decrease. D) taxes will decrease.
When an input represents a small proportion of a firm's total costs, then
A) demand for the input will tend to be less elastic. B) the input demand will vary significantly with a change in input price. C) the usage of the input cannot be varied in the production function. D) output demand will be highly elastic.
Suppose that the price of compact disks (CDs) increases, other things equal. Which of the following in the most likely effect in the market for DVDs?
a. a decrease in demand for DVDs b. an increase in demand for DVDs c. an increase in quantity demanded of DVDs d. a decrease in quantity demanded of DVDs e. a decrease in the quantity supplied of DVDs