Which of the following would most likely NOT be taught in a macroeconomics course?
A) changes in the health care industry
B) factors leading to different economic growth rates among countries
C) government actions in response to a slowdown in the economy
D) the relationship between the inflation rate and the unemployment rate
A
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A monopolistically competitive market has characteristics that are similar to
a. a monopoly only. b. a competitive firm only. c. both a monopoly and a competitive firm. d. neither a monopoly nor a competitive firm.
If a British student pays her way to attend Harvard University, her actions will: a. create a supply of dollars and a demand for pounds in the foreign currency market. b. create a supply of pounds and a demand for dollars in the foreign currency market. c. cause the British pound to appreciate
d. cause the U.S. dollar to depreciate.
Which of the following is a difference between a binding and a not binding price ceiling?
a. A binding price ceiling causes a shortage in the market, while a not binding price ceiling causes a surplus in the market. b. A binding price ceiling causes a surplus in the market, while a not binding price ceiling causes a shortage in the market. c. A binding price ceiling causes a shortage in the market, while a not binding price ceiling does not affect market behavior. d. A binding price ceiling causes a surplus in the market, while a not binding price ceiling does not affect market behavior.
In Figure 17.3, an increase in the supply of labor will cause the equilibrium:
A. wage and hours of labor used to increase. B. wage and hours of labor used to decrease. C. wage to increase and hours of labor used to decrease. D. wage to decrease and hours of labor used to increase.