Resale is difficult when
A) the good is light-weight.
B) the good is expensive.
C) transaction costs are high.
D) transaction costs are negligible.
C
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A city in which 320,000 persons are employed has a labor force of 359,500 persons. The unemployment rate for the city is: a. 7.8 percent
b. 11.0 percent. c. 12.3 percent. d. 14.5 percent.
When loans are repaid at commercial banks
A. the assets of commercial banks increase. B. money is destroyed. C. money is created. D. the net worth of commercial banks increases.
Along the short run aggregate supply curve, if the price level increases, then output will ______
Fill in the blank(s) with the appropriate word(s).
________ is an industry market structure with a small number of firms each large enough to impact the market price of its output.
A. An oligopoly B. Perfect competition C. A monopoly D. Monopolistic competition