In which of the following U.S. occupations is the rate of unionization the lowest?
A. Transportation workers.
B. Teachers.
C. Legal workers.
D. Sales workers.
Answer: D
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The ultimate or absolute measure of value in the opportunity cost perspective
A) does not exist. B) is the labor embodied in goods. C) is the money price of the goods. D) is the nonrenewable resources consumed in producing the goods.
A positive externality ________
A) gives rise to external benefits B) leads to increasing returns to scale C) imposes an additional cost on the society D) leads to higher economic profit
For a profit-maximizing monopolistically competitive firm, marginal revenue equals marginal cost in
a. the short run but not in the long run. b. the long run but not in the short run. c. both the short run and the long run. d. neither the short run nor the long run.
In the AS/AD model, a contractionary monetary policy:
A. reduces investment but increases aggregate demand. B. increases both investment and aggregate demand. C. increases investment but reduces aggregate demand. D. reduces both investment and aggregate demand.