When, because of hiring and firing costs, firms retain workers in a recession that they would otherwise lay off, there is said to be
A) labor hoarding.
B) a decline in capacity utilization.
C) voluntary unemployment.
D) involuntary unemployment.
A
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An assumption of the neoclassical theory of growth is that
A) people receive only subsistence real GDP per person. B) all technological advances are the result of chance. C) the marginal product of all types of capital increases as more capital is accumulated. D) knowledge has diminishing returns.
Which of the following is an example of the "metering" strategy
a. A doll company selling dolls at cost but charging high margins on doll accessories b. A cell phone company offers free locked in phones but charges high prices per call c. A catering company pays its chefs higher wages to make sure that the bargain meals are just slightly burnt d. Only A&B
Wealth can be thought of as:
A. The sum total of all assets less any debts. B. The sum of all assets you have at any one point in time. C. The income that you have earned that year. D. The sum of all assets and any expected future assets.
Which of the following is not an example of market failure?
a. Efficient equilibrium b. Extreme income inequality c. Lack of competition d. Externalities