Refer to Figure 31.3 for a competitive labor market. A shift in labor supply from S1 to S2 could be caused by:
A. An increase in the price of machinery used in the production of the product.
B. An increase in the price of the product being produced.
C. An increase in the wage rate.
D. The unionization of another, separate labor market.
Answer: D
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Bank failures tend to occur most often during periods of:
A. recessions when many borrowers have a difficult time repaying loans and lending activity slows. B. stock market run ups when, like many companies, banks tend to be overvalued. C. wars and other civil unrest. D. high inflation when the fixed rate loans of many banks cause their real returns to decrease.
Which of the following statements is correct?
a. NASDAQ is an important stock exchange in the United States. b. The Standard & Poor's 500 Index and the New York Stock Exchange are two examples of stock indexes. c. The most significant influence on the demand for a corporation's stock is the number of shares of the stock that the corporation has issued. d. All of the above are correct.
The "donut hole" in Medicare Part D coverage refers to the fact that
A. coverage begins with the first dollar of prescription drug spending, then drops to zero after a particular level of spending, and then increases again. B. coverage ends for those who spend a great deal on prescription drugs. C. coverage begins only after individuals pay a significant portion of their prescription drug costs. D. police are covered more generously than firefighters.
Barriers to entering an industry ________.
A. encourage allocative efficiency B. are characteristic of a pure monopoly C. encourage productive efficiency D. apply only to pure monopolies