The unemployment caused by unions and by the threat of unionization is an example of:
A. voluntary unemployment
B. the discouraged-worker effect.
C. efficiency wages.
D. the conflict between insiders and outsiders.
Ans: D. the conflict between insiders and outsiders.
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Firms that extend credit to borrowers using funds from raised from savers are called:
A. financial intermediaries. B. stock brokers. C. bond dealers. D. central banks.
Refer to Figure 12.5. If exchange rates are floating, an expansionary monetary policy would best be represented by a movement from ________ in panel (a) and a corresponding movement from ________ in panel (b)
A) point A to point B; point X to point Y B) point C to point A; point X to point Y C) point D to point C; point Y to point X D) point B to point D; point Y to point X
What was not a benefit of the development of a national market?
a. Increased production by reducing tragedy of the commons problems. b. Permitted greater division of labor. c. Enabled people and organizations to engage more in their comparative advantages. d. Led to lower costs because of increasing returns to scale could be taken advantage of in more industries.
If the interest rate rises, a profit-maximizing firm will tend to
a. invest in more projects (such as new plants) with payoffs in the future. b. invest in fewer projects with payoffs in the future. c. increase both current output and future output. d. reduce both current output and future output.