A slump in one industry could increase the relative attractiveness of another industry:
A. increasing the quantity of labor demanded in the latter.
B. increasing the quantity of labor supplied in the latter.
C. decreasing the quantity of labor supplied in the latter.
D. decreasing the quantity of labor demanded in the latter.
Answer: B
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Suppose in year 1 the CPI is 90, in year 2 the CPI is 100, and in year 3 the CPI is 110. Then, inflation is
A) 11 percent between years 2 and 3. B) 11 percent between years 1 and 2. C) 100 percent in year 1. D) 10 percent between years 2 and 3. E) Both answers B and D are correct.
The firm in the figure above has a total cost equal to ________
A) $5.10 × 10 B) $8.00 × 10 C) ($5.10 - $8.00 ) × 10 D) ($8.00 - $5.10 ) × 10 E) None of the above answers is correct because more information is needed.
____ make(s) it difficult for an oligopoly to maintain a cooperative outcome with low production, high prices, and monopoly profits
a. Self-interest b. Incentives to cheat c. Government antitrust policy and regulation d. All of the above
Which of the following best describes the term deflation?
a. A falling inflation rate b. A negative price level c. A negative inflation rate d. An increasing inflation rate e. A positive inflation rate