A single firm in a competitive labor market has a labor supply curve that is
A. downward sloping.
B. perfectly elastic.
C. perfectly inelastic.
D. upward sloping.
Answer: B
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Which of the following has had the most rapid growth over the last two decades?
a. Germany b. France c. Pakistan d. Bangladesh e. India
Which of the following will shift the aggregate demand curve to the left?
A. Foreign economies fall into recession, reducing their demand for domestic exports. B. Consumers become optimistic about the future. C. The government increases spending on education. D. Income taxes are lowered.
Refer to Figure 23.6 for a perfectly competitive firm. Given the current market price, we expect to see
A. Exit from this industry. B. Entry into this industry. C. No change in the number of firms in this industry. D. Costs rise to absorb the profits earned by the firms in the industry.
Refer to Figure 1-4. Which of the following statements is false?
A) The slope of the tangent at E and the slope of the tangent at F are equal. B) The slope of the tangent at F is negative. C) The slope of the tangent at E is positive. D) Neither the slope of the tangent at E nor the slope of the tangent at F are equal to zero.