If a monopoly firm sells to competitive distributors, all of the following are true regarding the demand for the monopoly's product except which one?
A) It is the wholesale demand.
B) It is a derived demand.
C) It is the consumers' market demand.
D) It is the distributors' demand.
C) It is the consumers' market demand.
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Of the following OECD countries, which has the highest per-capita spending on health care?
A) the United Kingdom B) Japan C) Canada D) the United States
An increase in the minimum wage to $15 per hour would lead to
A) an increase in search activity for many workers. B) a decrease in search activity for many workers. C) a decrease in unemployment. D) no change in unemployment. E) no change in employment.
In the short run, the price level
a. will increase if unit costs increase. b. will increase if average markup decreases. c. will increase if unit costs decrease. d. is held constant by government decree. e. will decrease if there is a negative supply shock.
Computers and software programs are
a. inferior goods b. complementary goods c. goods with a cross-price elasticity of demand of 0 d. substitute goods e. perfectly elastic goods