Between 1860 and 1910, the labor force in agriculture
(a) dwindled to historic lows.
(b) decreased at a slow steady pace.
(c) increased but not at the same rate as the total labor force.
(d) stayed the same.
(c)
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How does a monopoly decide the optimal amount of a good that it should produce? How does it set the price for its product?
What will be an ideal response?
Quantitative easing is a central bank policy that attempts to stimulate the economy by possibly
A) selling treasury securities. B) making discount loans to nonfinancial corporations. C) slowly reducing the required reserve ratio. D) buying long-term securities.
Which of the following is always true for a perfectly competitive firm?
a. Marginal revenue is below price. b. Marginal revenue exceeds price. c. The market demand curve is a horizontal line. d. Price equals marginal revenue. e. The market supply curve is a horizontal line.
According to the quantity theory of money, if there are fewer dollars available to spend on the same number of goods and services, then:
A. the price level will fall. B. the price level will rise. C. output will increase. D. output will decrease.