Who from among the following would be classified as employed?
A. Jack Little, a 21 year old new college graduate actively looking for his first job
B. Brenda Smith, an 18 year old full-time college student
C. Sarah Lopez, a retired public school teacher
D. Mario Faubert, a NHL hockey player at home sick with the flu
Answer: D
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A monopolist that operates along the elastic range of its demand will find that
A) its total revenue increases when price decreases. B) its total revenue decreases when price decreases. C) its marginal revenue is negative. D) it is more profitable to operate along the inelastic range of the demand curve.
The government office in charge of collecting official employment statistics is the:
A. Bureau of Labor Statistics. B. Bureau of Economic Analysis. C. Bureau of Industry and Security. D. Bureau of the Census.
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
According to the matrix shown, how much will be produced if both firms collude?
A. 85 million units B. 70 million units C. 65 million units D. 50 million units
The joining of firms that are producing or selling a similar product is known as
A) a conglomerate merger. B) a horizontal merger. C) a vertical merger. D) economies to scale.