U.S. job losses cited by anti-trade critics
A. are mostly a short-term problem in isolated industries.
B. are mostly due to poor training by U.S. firms.
C. affect only capital-intensive U.S. industries.
D. are non-existent.
Answer: A
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During early 2001, the Fed unexpectedly increased the money supply. The effect of this policy was a
A) downward shift of the short-run Phillips curve. B) rightward shift of the long-run Phillips curve. C) upward shift of the short-run Phillips curve. D) movement upward along the short-run Phillips curve. E) movement downward along the short-run Phillips curve.
Suppose the market for hot pretzels in New York City is perfectly competitive. What is true of demand in this market?
a. The demand curve facing each seller is perfectly elastic. b. The demand curve facing each seller is perfectly inelastic. c. The market demand curve is perfectly elastic. d. The market demand curve is perfectly inelastic. e. The market demand curve is elastic.
When marginal revenue equals price for all levels of output, the firm is operating in a perfectly competitive market
a. True b. False
The long-run supply curve is horizontal in a(n)
a. increasing-cost industry b. constant-cost industry c. decreasing-cost industry d. labor-intensive industry e. capital-intensive industry