In years when teenagers become a greater percentage of the labor force,
A) the natural rate of unemployment falls.
B) the natural rate of unemployment rises.
C) the inflation rate rises.
D) the inflation rate falls.
B
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The price of one currency in terms of another country's currency is known as the
A) nominal exchange rate. B) real exchange rate. C) relative inflation rate. D) purchasing power parity rate.
All firms in a competitive industry have the following long-run total cost curve:
C(q) = q3 – 10q2 + 36q where q is the output of the firm. a. Compute the long run equilibrium price. What does the long-run supply curve look like if this is a constant cost industry? Explain. b. Suppose the market demand is given by Q = 111 – p. Determine the long-run equilibrium number of firms in the industry.
Which of the following are exempt from the antitrust laws?
A. all professional athletes B. colleges and universities C. deregulated industries D. labor unions