When a firm exits a competitive price-searcher market, the individual demand curves faced by all remaining firms in that market will
a. shift in a direction that is unpredictable without further information.
b. shift to the right.
c. shift to the left.
d. remain unchanged. It is the supply curve that will shift.
B
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Refer to Labor Force Statistics by Age. In the proper order, which age group has the highest unemployment rate and which has the highest participation rate?
Labor Force Statistics by Age. Suppose people in the adult population in a small country are classified based on their age. Labor Force Status less then 55 55 and older Number employed 400,000 100,000 Number unemployed 25,000 7,000 Number in Population 600,000 200,000 A) under 55, under 55 B) under 55, 55 and older C) 55 and older, under 55 D) 55 and older, 55 and older
The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year
When a $2 tariff is in place, U.S. production is equal to ________ batteries per year. A) 900,000; 700,000 B) 300,000; 100,000 C) 100,000; 500,000 D) 300,000; 500,000 E) 100,000; 300,000
In Figure 17-3 above, suppose we are working under assumptions of the Lucas model. With an expansionary monetary policy, the "policy ineffectiveness proposition" is shown as a movement between points
A) A and C. B) A and B. C) D and B. D) D and A. E) A and E.
In 1990, Senator Moynihan suggested that Social Security receipts and expenditures be taken off-budget so that the Social Security surplus would not be shown as part of the regular budget. He claimed that, under current accounting procedures, the Social Security surplus was masking the true size of the federal deficit. Would his proposal be a good idea?
What will be an ideal response?