Which of the following is most likely to reduce the market wage rate in a job category?
a. The job requires substantial out-of-town travel.
b. Employees have considerable flexibility in choosing their work hours.
c. The job is widely viewed as dangerous.
d. The job requires employees to move from city to city quite often.
B
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Which of the following undermines the effectiveness of a barrier to entry?
a. the existence of patents in the industry b. high fixed cost c. no access to resources d. product differentiation e. rapid technological innovation
Suppose there are 5 makers of tablet computers with market shares of 80%, 5%, 5%, 5%, and 5% respectively. The HHI is
A. 10,000. B. 0. C. 20. D. 6,500.
If the required reserve ratio were 15 percent, the value of the monetary multiplier would be:
A. 5.50 B. 6.67 C. 7.32 D. 8.54
If the slope of a demand curve is equal to -0.1 then
A) the demand is elastic at low prices and inelastic at high prices. B) as price increases by 10 percent quantity demanded decreases by 1 percent. C) we don't know whether the demand is elastic or inelastic. D) demand is inelastic.