Question 15 incorrect mark 000 out of 100 flag

This preview shows page 8 - 12 out of 12 pages.

Question 15 Incorrect Mark 0.00 out of 1.00 Flag question Question text The natural rate of unemployment: Select one: a. increases during recessions.
b. equals the sum of frictional and cyclical unemployment. c. equals the sum of frictional and structural unemployment. d. is always less than full employment rate of unemployment. Feedback The correct answer is: equals the sum of frictional and structural unemployment. Question 16 Correct Mark 1.00 out of 1.00 Flag question Question text A monopoly responds to an increase in demand by _______ price and _______ output. Select one:
Question 17 Incorrect Mark 0.00 out of 1.00 Flag question Question text Because tourist demand for airline flights is relatively _______ , small _______ in price will result in relatively _______ in additional tourists. Select one:
Question 18 Correct Mark 1.00 out of 1.00 Flag question Question text Perfect competition is important to study because it: Select one:
Question 19 Correct Mark 1.00 out of 1.00 Flag question Question text A statement that best reflects an evaluation of monopoly firms is that: Select one: a. they have a great deal of market power. b. they are economically efficient. c. consumers are given more choices, lower costs, and higher quality. d. competition should replace all monopolies. Feedback The correct answer is: they have a great deal of market power.
Question 20 Incorrect Mark 0.00 out of 1.00 Flag question Question text
In this exhibit (Figure 7-2), the potential output in this economy is: Select one:
Question 21 Correct Mark 1.00 out of 1.00 Flag question Question text The market for plumbing services in a city can be characterized by the model of monopolistic competition. Suppose that the
market is initially in long-run equilibrium, and then there is an increase in demand for plumbing services. We expect that in the long run: Select one:

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture