During recessions, the number of discouraged workers ________ and this ________ the unemployment rate.
A. decreases; increases
B. increases; increases
C. increases; reduces
D. falls; reduces
Answer: C
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Refer to the figure above. At what level of output does the firm maximize profits?
A) 0 units B) 10 units C) 20 units D) 30 units
If public subsidies for education were eliminated, what would you expect as an outcome in the market for educational services?
A) More students would enroll in school. B) The price students pay to attend school would equal the value of an additional unit of education consumed. C) There would be no correlation between the price students pay and the cost of providing the educational services. D) The quality of education would deteriorate.
When a party to a transaction lacks relevant information:
A. other parties will voluntarily share this information truthfully. B. they will not make the deal without complete information. C. they sometimes seek out information in ways that are not obvious. D. they always make the deal blindly.
The drug maker Pfizer enjoyed a monopoly of the antibiotic Lipitor because of patent rights
a. True b. False Indicate whether the statement is true or false