For a firm in a perfectly competitive industry, which of the following is TRUE?

Consider the market for blackjack dealers in Las Vegas. In each of the following cases, explain what happens to the equilibrium wage rate and the quantity of blackjack dealers hired

a. Three new large resort casinos open in Las Vegas. b. Fewer students are attending classes to learn to become blackjack dealers. c. Traditionally, blackjack dealing is a field that attracts foreign workers. However, changes in immigration laws have made it more difficult for foreign workers to come to Las Vegas to obtain jobs. The demand for blackjack dealers, however, does not change. d. Advances in technology have increased the popularity of electronic blackjack machines and decreased the popularity of live table games which require the use of a dealer.

In 2015, U.S. GDP was almost

a. $18 trillion. b. $15 trillion. c. $14 trillion. d. $12 trillion.