If the aggregate expenditure line has shifted downward, which of the following is the most likely cause?
a. There have been reports of good economic news.
b. The Fed has conducted an open market sale of bonds.
c. Income tax rates have been lowered.
d. The Fed has conducted an open market purchase of bonds.
e. Exports have increased.
B
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A four-firm concentration ratio measures
A) the price elasticity of demand in an industry. B) the price elasticity of demand among the four largest firms in an industry. C) the extent to which industry sales are concentrated among the four largest firms in the industry. D) the number of firms in an industry.
When governments subsidize retraining programs for unemployed workers to learn new skills, they are trying to minimize the effects of which kind of unemployment?
A. Frictional B. Structural C. Seasonal D. Real-wage
An exodus of firms from an industry will shift the demand for labor curve for that industry to the right
a. True b. False Indicate whether the statement is true or false
A monopoly creates a deadweight loss to society because it earns both short-run and long-run positive economic profits
a. True b. False Indicate whether the statement is true or false