Rent seeking lowers profits by
a. shifting the market demand curve to the right
b. shifting the market supply curve to the left
c. shifting the ATC curve upward
d. shifting the ATC curve downward
e. flattening the marginal revenue curve
C
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In the Solow growth model, if the level of investment is greater than depreciation at the initial capital-labor ratio , then ?k is ________ and the capital-labor ratio ________ toward the steady-state capital-labor ratio
A) greater than zero; increases B) greater than zero; decreases C) less than zero; increases D) less than zero; decreases
Seasonally adjusted unemployment rates:
A. adjust for the predictable summer increase in the unemployment rate for teenagers. B. adjust for the predictable summer decrease in the unemployment rate for teenagers. C. are the same as the unadjusted rates in periods of bad weather. D. are not calculated for the U.S. economy.