In the figure above, point B represents
A) a current account deficit.
B) a current account surplus.
C) a reduction in inventories.
D) a temporary imbalance in the money markets.
A
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Which of the following is true about monopolistic competition but false about perfect competition?
A) There is a large number of independently acting sellers. B) There are no barriers to entry. C) Firms can earn an economic profit in the short run. D) Firms compete on their product's price as well as its quality and marketing. E) Firms cannot earn an economic profit in the long run.
Which agency was created by Congress in 1914 to investigate and regulate unfair methods of competition?
a. the Department of Justice b. the Federal Trade Commission c. the Interstate Commerce Commission d. the General Accounting Office e. the Council on Competitiveness
Which of the following statements about featherbedding is correct?
A. It could increase production costs, resulting in higher prices for products. B. The quantity of labor demanded by firms could actually decrease. C. It could lead to a lower wage and smaller employment in the long run. D. All of these
The U.S. unemployment insurance program
A) increases the amount of time the unemployed spend searching for a job. B) decreases the level of frictional unemployment. C) pays the unemployed a benefit equal to twice the average wage. D) eliminates structural unemployment.