The ________ broadly we define a market, the less difficult it becomes to find ________.
A. less; substitutes
B. more; goods independent of each other
C. more; substitutes
D. more; complements
Answer: A
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Suppose that the money supply increases. In the short run this decreases unemployment according to
a. both the short-run Phillips curve and the aggregate demand and aggregate supply model. b. neither the short-run Phillips curve nor the aggregate demand and aggregate supply model. c. the short-run Phillips curve, but not according to the aggregate demand and supply model. d. the aggregate demand and aggregate supply model, but not according to the short-run Phillips curve.
An employer can't legally pay an employee less than $7.25 per hour, which is the federal minimum wage in 2018. Why does this lead to wage stickiness?
If an agent acts without the authority of the principal on a contract, who will be liable to third parties for any contracts entered into?
In Figure 12.6, airline Fly Smart is initially a secure monopoly between two cities X and Y at point M, serving 300 passengers per day at the profit maximizing price of $300 per ticket. What is Fly Smart's profit per ticket?
A. $200 B. $120 C. $80 D. $0