Policies that make it more difficult to fire an employee are likely to:
A. lead to greater unemployment.
B. lead to less unemployment.
C. have no impact on unemployment.
D. affect frictionally unemployed workers more than other unemployed workers.
A. lead to greater unemployment.
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When there is a shortage in the market, the quantity sold is
A) greater than the quantity supplied. B) equal to the quantity supplied. C) less than the quantity supplied. D) less than the quantity bought.
The deposit expansion multiplier would decrease if the Fed were to
A) raise the required reserve ratio. B) lower the required reserve ratio. C) lower the discount rate. D) buy bonds.
Consideration of the minimum efficient scale of operation would suggest that, to minimize production costs, the market should be served by a large number of small firms when the LRAC curve slopes downward over the relevant range of output
Indicate whether the statement is true or false
The term Production Function refers to the
A) use of machinery and equipment in production. B) relationship between costs and output. C) relationship between inputs and output. D) role of labor unions.