Indentured servitude was first used to promote immigration in
a. Jamestown in 1618.
b. Plymouth Colony in 1623.
c. New York in 1630.
d. Rhode Island Colony in 1652.
a. Jamestown in 1618.
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A single price monopolist has a demand curve: P = 500 - 50Q. It has the total cost curve: TC = 1000 + 100Q. If the firm is a profit maximizer or loss minimizer, what output and price should it plan for?
What will be an ideal response?
Answer the following questions true (T) or false (F)
1. Currently, the base year for the CPI is the average of prices in the years 1982 to 1984. 2. To obtain real average hourly earnings, nominal average hourly earnings are multiplied by the CPI. 3. The CPI in 2010 was 218, while the CPI in 1980 was 82. If you had $5,000 in 1980, its equivalent purchasing power in 2010 would be $10,850.
A concentrated industry has ________ that dominate a market.
A. a large number of firms B. three or fewer firms C. an infinite number of firms D. a relatively small number of firms
Unemployment that occurs when there is deficient demand for the goods and services of an economy is called:
A. Frictional unemployment B. Cyclical unemployment C. Structural unemployment D. Natural unemployment