Of the following, consumer surplus is largest for
A) a perfectly competitive industry.
B) a single-price monopoly.
C) any price-discriminating monopoly.
D) a perfectly price-discriminating monopoly.
A
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Which of the following is likely to increase the total efficiency units of labor in an economy?
A) An increase in the level of education attained by each worker B) An increase in the amount of capital available to each worker C) An increase in the inflation rate in the economy D) An increase in the unemployment rate in the economy
For a given increase in aggregate demand, the steeper the short-run aggregate supply curve: a. the larger the increase in investment expenditure. b. the smaller the increase in the price level
c. the smaller the increase in real GDP. d. the larger the increase in real GDP. e. the smaller the increase in real interest rate.
When demand for goods and services is high, firms are more likely to hire more workers.
Answer the following statement true (T) or false (F)
The unemployment rate is the
A. number of unemployed divided by the number of employed. B. labor force divided by the number of unemployed. C. number of unemployed divided by the labor force. D. number of employed divided by the number of unemployed.