Based on price setting behavior, we know that an increase in the unemployment rate will cause
A) no change in the real wage.
B) a reduction in the real wage.
C) an increase in the real wage.
D) an upward shift of the PS curve.
A
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(Last Word) In 2000, Microsoft was fined $2.7 billion for
In which market would the price be least likely to be "sticky"?
A) refrigerators B) steel rods C) trucks D) fresh fruit
If two or more markets are closely related,
A) a partial equilibrium analysis will tend to overstate the price impact of a supply shock. B) a partial equilibrium analysis will tend to accurately predict the price impact of a supply shock. C) a partial equilibrium analysis will tend to understate the price impact of a supply shock. D) they should be analyzed concurrently but using partial equilibrium analysis alone.
An example of an excludable good or service is a:
A. movie in a theater. B. city park. C. rainbow. D. levee system.