Which of the following explains the recent decline in union membership in the United States?
a. smaller government safety nets
b. slower technological change
c. the change from a manufacturing to a service-based economy
d. increasing market concentration
e. none of the above
C
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Use the following graph for a monopolistically competitive firm to answer the next question.
Point b indicates
A. the price-output combination that yields maximum profits. B. the lowest possible cost of the firm's product. C. a situation where the firm is earning economic profits. D. a point that cannot be the long-run equilibrium point.
Refer to Figure 27-1. Suppose the economy is in short-run equilibrium below potential GDP and Congress and the president lower taxes to move the economy back to long-run equilibrium
Using the static AD-AS model in the figure above, this would be depicted as a movement from A) A to B. B) C to B. C) B to C. D) A to E. E) B to A.
In general does international diversification benefit investors?
A) yes, because it allows them to diversify their risk across many countries B) no, because it creates the additional problem of country risk C) yes, because it enables much greater profits through arbitrage opportunities D) no, because it subjects them to legal regulation in additional markets
A firm that charges a very low price would be practicing predatory pricing if
a. the price allowed only a small profit. b. the price would only be profitable if it succeeded in driving a rival out of the market. c. the price allowed profits that were positive but below those earned by other firms. d. it only offered the low price to its rivals' customers.