Which is not true for a monopolistic ally competitive industry?
A. Firms tend to operate with excess capacity
B. Each firm faces a downward-sloping demand curve
C. These firms earn zero economic profits in the long run
D. Firms operate at the lowest point of their ATC curves in the long run
D. Firms operate at the lowest point of their ATC curves in the long run
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A local bar provides free pretzels and peanuts. Once a week it even provides chicken wings for only ten cents each. It is
A) selling drinks below cost. B) selling pretzels, peanuts and wings below cost. C) unfairly competing against other local bars who are unable to do the same. D) almost certainly doing none of the above.
Which of the following would decrease the natural rate of unemployment?
A) a decrease in government-sponsored programs that train unemployed workers so they can find new jobs quickly B) an increase in the generosity of unemployment insurance programs C) fewer restrictions on unions to negotiate wage changes with companies D) a decrease in the number of younger, less skilled workers in the economy
Total reserves are the sum of ________ and ________
A) excess reserves; borrowed reserves B) required reserves; currency in circulation C) vault cash; excess reserves D) excess reserves; required reserves
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.