Local cable television companies frequently are monopolists
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is NOT an assumption regarding people's preferences in the theory of consumer behavior?
A) Preferences are complete. B) Preferences are transitive. C) Consumers prefer more of a good to less. D) All of the above are basic assumptions about consumer preferences.
Spending for unemployment compensation and welfare benefits increase automatically
A. When the economy expands. B. When voters make the decision to increase these items. C. Only when the fiscal year begins. D. When the economy goes into recession.
A perfectly competitive firm ________ at the level of output where P = ATC.
A. breaks even B. earns an economic profit C. suffers an economic loss D. shuts down
In calculating the unemployment rate, part-time workers over the age of 16 are counted as
A) not in the labor force. B) employed if they are part-time workers for noneconomic reasons and unemployed if they are involuntary part-time workers. C) not in the working-age population. D) unemployed. E) employed.