Labor resources include:
a. skilled workers but not unskilled workers.
b. unskilled workers but not skilled workers.
c. a robot.
d. education and training of workers.
e. coffee breaks.
d
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An economy currently has an inflationary gap. An increase in the money wage rate will ________ the inflationary gap and ________ the price level
A) decrease; decrease B) increase; increase C) increase; decrease D) decrease; increase
Which of the following statements is TRUE?
A) A monopoly cannot set price and quantity such that the point lies above the demand curve. B) A monopoly can charge whatever it wants. C) Profit maximization occurs by setting price first. D) Both A and B.
The existence of interdependence among firms in an oligopoly market
A. allows the analysis of the market through standard approaches. B. results in a monopoly outcome under virtually all circumstances. C. increases entry into the market. D. results in a great deal of difficulty in analyzing the behavior of firms.
An increase in interest rates by the Federal Reserve is an example of ________ policy.
A. monetary B. structural C. aggregation D. fiscal