If imperfect information characterizes workers' behavior, then there will be a
A) slow adjustment of the demand for labor, Nd.
B) rapid adjustment of the demand for labor, Nd.
C) rapid adjustment of both the demand for labor, Nd, and the supply of labor, Ns.
D) a lagged adjustment of the equilibrium level of employment, Ns.
D
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In a political democracy,
(a) only the voting majority is protected but the minority is coerced to protect the majority. (b) the population minority is free to organize and to lobby to achieve goals. (c) there is no unequal distribution of income or wealth. (d) the minority can elect officials.
Which of the following is not consistent with a goal of reducing the power of firms in the market?
a. shortening patent life b. creative destruction theory c. countervailing power theory d. Schumpeter's economies of scale argument e. antitrust policy