The typical firm in many industries has become ________ over the past 100 years, and efficiently organizing production has become ________
A) larger; more difficult
B) smaller; more difficult
C) larger; easier
D) smaller; easier
Answer: A
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Frictional unemployment exists because:
A) firms do not make an attempt to advertise the vacancies they have. B) unemployment benefits are capped in most economies. C) firms and workers have imperfect information about each other and the state of the economy. D) job markets are heavily regulated by the government..
Refer to the accompanying figure. A decrease in supply is represented by a shift from:
A. curve B to curve A. B. curve D to curve C. C. curve C to curve D. D. curve A to curve B.
In natural and platform monopolies, economists argue that regulation:
A. is not explicitly desirable, and society should rather rely on direct competitive forces. B. is desirable, and should involve strict enforcement. C. is irrelevant. D. should be heavily enforced by government.
What economic events and policies led to the emergence of the U.S. economy from the stagflation of the late 1970 and early 1980? Depict the effect of these events using the extended AD–AS model.
What will be an ideal response?