Which of the following is an example of a natural experiment?
A) A research on the effectiveness of a new medicine among some voluntary participants
B) A study on the benefits of regular exercise by paying for the membership fees at fitness clubs for one-half of the participants
C) A laboratory research on the effectiveness of solar power as an alternative source of fuel
D) A research on the effect of air pollution on lung disorders by observing the health conditions of people who stay close to industrial areas and those who stay away from industries
D
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Use the following graph of the demand for noodles to answer the question below.
Refer to the three demand curves for noodles. Which of the following would shift the demand for noodles from D1 to D2?
A. an increase in the number of buyers of noodles B. People hear that eating noodles can have negative health effects. C. a decrease in the price of noodles D. a decrease in the number of buyers of noodles
Which of the following leads to a deadweight loss? i. competition ii. taxes iii. consumer surplus iv. monopoly
A) ii only B) iii and iv C) i and ii D) ii and iv E) i, ii, and iii
A Herfindahl index of 5,000 would indicate:
a. a monopoly. b. a duopoly (two firms) with equal shares. c. an oligopoly with three firms. d. a monopolistically competitive industry. e. a perfectly competitive market.
Which of the following statements is true?
A. A monopsony is the only employer of a factor of production. B. A monopsony will pay workers a higher wage and employ fewer workers than a competitive labor market. C. A monopsony has a marginal factor cost curve which lies below its supply curve of labor. D. Unions are becoming a greater influence in American labor markets.