Which of the following would cause the demand curve for automobile workers to increase?
A. Higher gas prices.
B. A decrease in price in automobiles.
C. A better organized assembly line where specialization increased output.
D. Higher social security taxes.
Answer: C
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A monopsonist will buy ________ units of input than a competitor, and will pay ________ per unit
A) fewer; less B) more; less C) fewer; more D) more; more
Which of the following owns the largest proportion of the national debt?
a. Foreigners. b. Federal, state, and local governments and the Federal Reserve. c. Private individuals, banks, and corporations. d. None of these.
Suppose that firms in the perfectly competitive potato-growing industry are earning economic profits. According to economic theory, what is likely to happen?
a. The costs of the firms will increase, eventually eliminating the profit. b. The existence of profits will lead to a drop in the demand for potatoes. c. More firms will enter the market, thereby increasing the industry supply and lowering the market price. d. More firms will enter the market, thereby decreasing the industry supply and raising the market price.
The large net revenue that a firm earns from an activity
What will be an ideal response?