The primary cause of frictional unemployment is:
A. discouraged workers who give up looking for work.
B. fluctuations in aggregate demand.
C. the lack of training and marketable qualifications in job seekers.
D. inaccurate information about job opportunities.
Answer: D
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Suppose a monopolist is considering starting a $500,000 advertising campaign. The current demand for its product is given by
p = 150 - 3Q where Q is the quantity of output in thousands. If the monopolist undertakes the advertising campaign, it expects demand to increase to p = 200 - 4Q The (non-advertising) cost for the monopolist is C(Q) = 30Q. a. Determine whether the monopolist should undertake the advertising campaign assuming that it is correctly anticipating the potential increase in demand. b. What is the most the monopolist will invest towards this advertising campaign?
If the producers bear a smaller tax incidence than the buyers in a market, which of the following must be true?
A. It must be a market for inferior goods. B. It must be a market for luxury items. C. Their supply curve must be more elastic than the buyers demand curve in this market. D. Their supply curve must be less elastic than the buyers demand curve in this market.
The circular flow of economic activity is a model of the:
a. flow of goods, resources, payments, and expenditures between the sectors of the economy. b. influence of government on business behavior. c. influence of business on consumers. d. role of unions and government in the economy.
When a bank obtains a loan from the Fed, it follows that the
A) simple deposit multiplier rises. B) bank (itself) can create more loans. C) bank's reserves decrease. D) bank's reserves remain unchanged. E) none of the above