Other things equal, a monopolist will hire
A) more workers than a perfectly competitive industry.
B) fewer workers than a perfectly competitive industry.
C) more workers than a perfectly competitive firm.
D) the same number of workers as a perfectly competitive industry would.
B
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The view that expectations change relatively slowly over time in response to new information is known in economics as
A) rational expectations. B) irrational expectations. C) slow-response expectations. D) adaptive expectations.
The Incentive Principle is an example of:
A. a positive economic principle. B. an economic decision-making pitfall. C. a normative economic principle. D. over-estimating the benefits of an action.
Discuss the effect leverage has on a bank’s profit.
What will be an ideal response?
In the foreign exchange market, the demand for dollars increases and the demand curve for dollars shifts rightward if the
A) U.S. interest rate differential increases. B) foreign interest rate rises. C) exchange rate falls. D) expected future exchange rate falls. E) U.S. interest rate falls.