The demand curve facing a monopolist is perfectly elastic
a. True
b. False
B
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Which of the following is likely to be an unreported economic activity?
A) the brokerage fees paid to a broker at Merrill Lynch B) the purchase of shares of stock in Walgreen's Pharmacy C) a $250,000 bonus paid to the CEO of a company D) tips paid to a taxi driver E) the minimum wage paid to a teenager working at a McDonald's
If the government increases its spending or reduces its taxes in order to influence the level of economic activity, it is engaging in
a. regulatory policy b. antitrust policy c. monetary policy d. fiscal policy e. supply-management policy
Suppose that the labor market for high school chemistry teachers is initially in equilibrium. Chemistry teachers use laboratory chemicals as an important part of their jobs. New environmental regulations ban the use of many chemicals, which means that fewer laboratory chemicals are available for high school chemistry teachers to use in their jobs. In the market for high school chemistry teachers,
the equilibrium wage a. increases because the marginal productivity of high school chemistry teachers increases. b. decreases because the marginal productivity of high school chemistry teachers decreases. c. increases because the supply of high school chemistry teachers increases. d. decreases because the supply of high school chemistry teachers decreases.
Which of the following is true?
What will be an ideal response?