Compared to the equilibrium price and quantity sold in a competitive market, a monopolist will charge a ________ price and sell a ________ quantity
A) higher; larger
B) lower; larger
C) higher; smaller
D) lower; smaller
E) none of these
C
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The induced retirement effect
A. causes a decrease in savings because people retire earlier. B. causes a decrease in savings because people retire later. C. causes an increase in savings because people retire later. D. causes an increase in savings because people retire earlier.
Free trade leads to an overall improvement in the standard of living in a country because everything is produced at the lowest possible cost
a. True b. False Indicate whether the statement is true or false
If the price of one input changes, generally the firm will change its use of both inputs
a. True b. False Indicate whether the statement is true or false
Cyclical unemployment
a. is caused by changes in the business cycle. b. results from imperfect search activities in matching qualified employees with employers. c. results from institutional factors that make it difficult for some workers to find jobs. d. will probably go up as a result of improvements in online job searching.