The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment
a. True
b. False
Indicate whether the statement is true or false
False
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Does an open market operation in which the Fed buys securities from the general public decrease or increase the banking system's reserves?
What will be an ideal response?
Total product is
A) the increase in output that results from a one-unit increase in the quantity of labor employed with all other inputs remaining the same. B) maximum output that a given quantity of labor can produce. C) maximum amount of output produced by a given quantity of labor divided by the given quantity of labor employed. D) maximum amount of amount of output produced by a given quantity of labor divided by price of the output.
A difference between a perfectly competitive market equilibrium and a perfect price discrimination equilibrium is that in a competitive market ________, whereas in perfect price discrimination ________
A) all units are sold where P = MC; only the last unit sold is at P = MC B) deadweight loss varies depending on the shape of the MC curve; deadweight loss increases C) consumers are better off; producers lose some sales due to high prices. D) All of the above.
If the marginal cost of producing a good is increasing as a firm produces more of the good, then which of the following must be TRUE?
A) AFC is rising. B) AVC is rising. C) MC > AVC. D) MPL is falling.