Which of the following is considered a negative supply shock?
A) an unexpected decrease in the refining capacity for oil
B) an improvement in technology
C) increasing immigration in the economy causes the labor supply to rise
D) an increase in unemployment
A
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Neoclassical economists consider changes in aggregate demand a useful tool for reducing unemployment
a. True b. False Indicate whether the statement is true or false
Most countries in the world have Gini coefficients ranging from:
A. 0.30 to 0.40. B. 0.25 to 0.60. C. 0.20 to 0.85. D. 0.10 to 0.50.
Some corporate governance experts believe that serving on a company's board of directors for an extended length of time diminishes that member's independence from the company's CEO. If this is true, it would tend to
A) reduce the principal-agent problem. B) increase the principal-agent problem. C) be in the best interest of shareholders. D) have no impact on the company's performance, since the CEO is only one member of top management.
There are hundreds of companies in the business of providing natural gas to residential users. For the most part, these local gas companies each only serve their local community, so they buy in very competitive markets but sell locally and without competitors. The wholesale market is therefore likely to be
A. monopoly. B. oligopoly. C. monopolistic competition. D. perfect competition.