Due to the added worker effect, the labor force participation rate
A. is a fairly useless statistic.
B. decreases during a recession.
C. overcounts the number of workers with a job.
D. overcounts the number of workers wanting a job.
E. increases during a recession.
Answer: E
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For a firm in monopolistic competition, the marginal cost curve intersects the average total cost curve
A) at the minimum average total cost. B) to the left of the minimum average total cost. C) to the right of the minimum average total cost. D) at no point.
A firm that practices multimarket price discrimination will set the lower price in the market that has the most elastic demand
Indicate whether the statement is true or false
In a Bertrand model with identical firms and a non-differentiated product, price will increase in response to
A) an increase in the number of firms. B) a decrease in the number of firms. C) an increase in marginal cost. D) a decrease in marginal cost.
The current account records
a. last year's flows of funds into and out of the country b. current flows of imports and exports of goods and services, net income earned by U.S. residents from foreign assets, and net transfer payments c. current flows of imports and exports of goods only d. only net income earned by U.S. residents from foreign assets e. only current flows of imports and exports of goods and services and net transfer payments