The U.S. Postal Service
a. has as much monopoly power now as it had 100 years ago
b. has lost much of its market power due to new competitors and new technologies
c. has increased its prices by less than the rate of inflation during the past 25 years
d. is more mechanized and more computerized than its potential competitors
e. is a perfectly competitive firm
B
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A worker's labor supply depends on, among other things, his ability, his preference for the task, and the opportunity cost of his time
a. True b. False
Suppose the economy operates at potential output, if the amount that businesses plan to invest is greater than the amount that consumers plan to save, then
A. there will be an inflationary gap. B. there will be a recessionary gap. C. equilibrium GDP will be less than aggregate investment. D. the economy will experience inventory accumulation.