The unemployment rate in the United States at the peak of the Great Depression was ________ percent.
A. 20
B. 10
C. 25
D. 5
Answer: C
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With asymmetric information firms might be reluctant to improve the quality of their products because
A) it costs them more to produce the better quality product. B) they are not able to completely capture the benefits of the improvement. C) consumers do not value the better product. D) consumers are better informed about the product and value the new product less.
The learning curve indicates that
A) economies of scale are taking effect. B) repetition of various production tasks cause unit costs to decrease. C) workers must learn new skills in order to improve. D) it takes time to learn a new skill.
Which of the following best describes trends in unionization and immigration in the 1920s?
a. Immigration was restricted and unions decreased b. Immigration was encouraged and unions increased c. Immigration was encouraged while the number of union members decreased d. Immigration was discouraged while the number of union members increased
Unrestrained monopolies are criticized because they restrict output and reduce innovation.
Answer the following statement true (T) or false (F)