At the long-run equilibrium level of output, the monopolist's marginal cost will:
a. exceed price.
b. equal price.
c. be less than price.
d. be less than marginal revenue.
c
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In the figure above, if the government provides the efficient amount of education, how many students will be accepted?
A) 8 million per year B) 12 million per year C) 10 million per year D) 16 million per year
The convergence theory suggests:
A. that poorer countries will grow faster than rich ones. B. all countries eventually will experience the same rate of growth. C. countries may have the same rate of growth but differing levels of income. D. All of these are true.
Curve XY represents _____________.
A. short-run aggregate demand
B. long-run aggregate demand
C. short-run aggregate supply
D. long-run aggregate supply
Which of the following falls into the largest unemployment category during a recession?
A. A factory worker who is laid off due to the temporary closing of a plant during a recession. B. A recent college graduate entering the labor force for the first time. C. A woman who left the labor force to raise children and now wants to return to work. D. A teenager looking for his or her first summer job.