Variability in prices for grains tends to be _____ (less than, greater than) variability in price for beef and hogs.
a. Less than
b. Greater than
b. Greater than
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The closer monopolistic competition gets to perfect competition
a. the more vertical the AR curve. b. the more horizontal the AR curve. c. the greater the difference between AR and MR. d. the greater the profit.
Net exports equals _____
a. the value of exports minus the value of imports b. the value of imports minus the value of exports c. the value of imports minus tariffs d. the value of exports minus tariffs e. the value of exports plus the value of imports minus depreciation
The official unemployment rate may not reflect the true state of unemployment because: a. Some workers may go through the motions of looking for work to keep their unemployment benefits, but not actually be looking for work. b. Some people who are working in the underground economy may be classified as unemployed
c. Some may leave the labor force and go back to school only because job conditions are currently poor. d. all of the above.
Under an emissions tax program, the government sets ____; under an emissions permits program, the government sets ____
a. the price of the right to pollute; the price of the right to pollute b. the price of the right to pollute; the permitted total quantity of pollution c. the permitted total quantity of pollution; the price of the right to pollute d. the permitted total quantity of pollution; the permitted total quantity of pollution