The labor force is the
What will be an ideal response?
sum of the number of employed people and the number of unemployed people.
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Which of the following happens if the long-run real interest rates fall?
A) The demand for loans fall. B) Employment increases. C) Nominal wages fall. D) Imports increase.
Which of the following is a difference between an oligopoly model with homogeneous products and a monopoly?
A) Firms in an oligopoly with homogeneous products earn positive economic profits in the long run, while a monopoly earns zero economic profits in the long run. B) Firms in an oligopoly with homogeneous products face stiff competition from its rivals, while there is no competition in a monopoly. C) There are huge barriers to entry in an oligopoly with identical products, while there are no barriers to entry in a monopoly. D) Firms in an oligopoly with identical products charge a price higher than marginal cost in the long run, while a monopoly charges a price lower than marginal cost in the long run.
For the Coase theorem to work there must be clear assignment of property rights
Indicate whether the statement is true or false
"I oppose a free trade agreement with Mexico because American workers will lose jobs to low-paid Mexican workers." Explain whether you agree or disagree with this statement