Someone unemployed for a long period of time due to technological change would be described as structurally unemployed.
Answer the following statement true (T) or false (F)
True
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If a sizeable amount of U.S. currency is held outside of the United States,
a. the accuracy of the M2 money supply figures will be improved, but there will be no impact on M1. b. the accuracy of the M1 money supply figures will be improved, but there will be no impact on M2. c. the money supply figures, particularly those for M1, will be less reliable. d. the money supply figures of the U.S. will not be affected because the funds are held outside the U.S.
A natural monopoly exists when:
A. unit costs are minimized by having one firm produce an industry's entire output. B. several formerly competing producers merge to become the only firm in an industry. C. short-run average total cost curves are tangent to long-run average total cost curves. D. minimum efficient scale is attained at a small level of output.
At the socially optimum quantity of production, price equals:
A. average total cost. B. marginal revenue. C. average variable cost. D. marginal cost.
When supply is ________ or the product is ________, then price is demand determined.
A. variable; unique B. variable; standardized C. fixed; standardized D. fixed; unique