Because a union is a form of monopoly, it must be concerned about the ________ slope of the demand curve for labor.
A. vertical
B. downward
C. horizontal
D. upward
Answer: B
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Which of the following is NOT one of the "unholy trinity" of events that interact to fuel an explosive hyperinflation?
A) supply shocks B) monetary accommodation C) exchange rate appreciation D) frequent wage indexation
In a long-run equilibrium, both perfectly competitive markets and monopolistically competitive markets have price equal to average total cost
a. True b. False Indicate whether the statement is true or false
People who lost their jobs as hand-drawn animators because of the popularity of computer-generated 3D animation are examples of persons who are suffering
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.
Competition between banks
A) encourages greater risk taking. B) encourages conservative bank management. C) increases bank profitability. D) eliminates the need for government regulation.