Which of the following is a problem with using real GDP as a measure of economic well-being?
a. It fails to measure the value of leisure
b. It fails to measure the underground economy.
c. It does not factor in externalities.
d. all of the above
d
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Antitrust authorities are least likely to take action against:
A. conglomerate mergers. B. horizontal mergers. C. interlocking directorates. D. price-fixing.
In a situation of excess supply in the labor market, there are:
a. many applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have. b. few applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have. c. many applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have. d. few applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have.