Since the National Basketball Association is the only significant employer of professional basketball players, it might be referred to as a(n)

If the Federal Reserve attempts to continue reducing unemployment by manipulating monetary policy, which of the following would you expect to see?

A) The rate of inflation will fall as the Fed tries to reduce the unemployment rate. B) The Fed's policies will be deflationary. C) The Fed's policies will be inflationary. D) The Fed will reduce the natural rate of unemployment.

A firm sells 300,000 units per week. It charges $ 35 per unit, the average variable costs are $40, and the average costs are $55 . In the short run, the firm should

a. Shut-down as the firm is making a loss of $15 million per week b. Shut-down as the firm cannot cover the variable costs c. Shut down because the price is lower than average cost d. None of the above