In 2015, the U.S. labor force was approximately
A. 320.1 million.
B. 157.1 million.
C. 15,962 million.
D. 149.3 million.
Answer: B
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Firms in perfect competition produce the productively efficient output level in the short run and in the long run
Indicate whether the statement is true or false
Megan has opened a new startup company in web design. Within the first month of business, the startup agrees to maintain an accounting firm's website in exchange for someone doing their tax returns. Which of the following principles of economic interaction best describes this scenario?
a. All costs are opportunity cost. b. Trade can make everyone better off. c. When markets do not achieve efficiency, government intervention can improve overall welfare d. Market allocate goods effectivity
President Clinton, at the beginning of his administration, increased personal income taxes on individuals with relatively high incomes. How will this change the consumption schedule?
A. It will shift and become steeper. B. It will shift and become flatter. C. It will shift in a parallel manner. D. It will remain fixed as the economy moves along the schedule.
A nondiscriminating pure monopolist is generally viewed as:
A. both productively and allocatively inefficient. B. productively efficient but allocatively inefficient. C. productively inefficient, but allocatively efficient. D. both productively and allocatively efficient.