In the theory of monopoly, which of the following is an exogenous variable?
a. The technology available to the monopoly.
b. The price charged by the monopoly.
c. The level of output produced by the monopoly.
d. The profit earned by the monopoly.
a. The technology available to the monopoly.
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Using Figure 1.3 and PP1, at point A,
A. The available technology keeps production inside PP1. B. An increase in the production of mops would definitely require a decrease in the production of brooms. C. There is inefficient use of available resources. D. All available resources are being used efficiently.
The 1996 Farm Act actually increased the level of government assistance to farmers.
Answer the following statement true (T) or false (F)
When 100 people who had previously stopped looking for jobs now decide to look for jobs, the
A. labor-force participation rate does not change. B. unemployment rate does not change. C. size of the labor force increases. D. unemployment rate decreases.
In April 2000, the United States had a labor force of 141,230,000, employment of 135,706,000, and there were 67,986,000 people not in the labor force (all numbers rounded to the nearest 1000).(a)Calculate the unemployment rate.(b)Calculate the participation rate.(c)Calculate the employment ratio.
What will be an ideal response?