If postal workers lose their positions because of the widespread e-mailing, texting, and faxing, it would likely _______ the natural rate of unemployment.

New firms enter a monopolistically competitive market structure in the long run if the price charged by the existing firms in the short run ________

A) exceeds the average total cost of production B) equals the average fixed cost of production C) equals the average variable cost of production D) equals the price charged in a perfectly competitive market

Silvio's Pizza is a small pizzeria. The firm's production function is shown in the table above

Suppose that Silvio's costs include only the cost of renting ovens, which is $100 per oven per week, the labor cost, $280 per worker per week, and the opportunity cost of Silvio's entrepreneurship, $1,000 per week. Suppose Silvio's uses Plant 2. If Silvio hires the 4th worker, the firm will experience ________ marginal returns. A) diminishing B) increasing C) constant D) zero

Which of the following would not be classified as capital formation?

a. buying shares of stock b. building a new warehouse c. purchasing new construction equipment d. All would be considered capital formation.

The amount of unemployment caused by efficiency wages:

A. is larger in sectors that have more less-skilled workers in them. B. has been measured by economists to be minimal. C. has been found to be quite large in markets that have mostly minimum-wage workers. D. has little conclusive evidence in economic research.