Suppose coffee prices, gasoline prices, and concert ticket prices are all sharply higher this year compared to last year. The economy is experiencing
A) disinflation.
B) deflation.
C) inflation.
D) possibly A, B, or C above.
D
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In the standard unemployment rate, discouraged workers are counted as:
A. part of the labor force. B. employed. C. unemployed. D. part of the population over 16.
In the long run, monopolistically competitive firms:
A. have excess capacity and produce at the minimum of average total cost. B. produce at the minimum of average total cost. C. have excess capacity. D. charge prices equal to marginal cost.
For productive efficiency to hold
A) price must equal the marginal cost of the last unit produced. B) price must equal marginal revenue of the last unit sold. C) the average variable cost must be minimized in production. D) the average total cost must be minimized in production.
A widely held corporation is one in which:
A. the dominant blockholder controls 40% of the shares. B. each blockholder controls exactly 25% of the shares. C. none of the owners control more than 5% of the shares. D. none of the owners control more than 10% of the shares.