Perfect competitors operate at peak efficiency in
A. both the short run and the long run.
B. neither the short run nor the long run.
C. only the short run.
D. only the long run.
D. only the long run.
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Bill just graduated with his degree in economics. Through Career Services he submitted his resume to several companies and he will visit them during the next two weeks. Bill is considered
A) not in the labor force. B) frictionally unemployed. C) structurally unemployed. D) cyclically unemployed. E) employed because he is visiting firms.
Controlling the quantity of money and interest rates to influence aggregate economic activity is called
A) foreign policy. B) monetary policy. C) fiscal policy. D) bank antitrust policy.
Crop lien laws that existed in the South in the late 19th century:
a. allowed country stores to require debtors to repay their debts in cotton. b. led to the under-production of cotton. c. protected sharecroppers from exploitation by banks and other lending institutions. d. redistributed property by providing small farms for freed slaves. e. All of the above.
A factor that would reduce the ability of the Social Security system to maintain current benefit levels with constant tax rates is
a. rapid real wage growth. b. reduced population growth. c. adoption of a "pay as you go" system. d. a slowdown in inflation.