We would expect that policies to protect workers would:
A. lead to greater unemployment.
B. lead to less unemployment.
C. have no impact on unemployment.
D. affect those seasonally unemployed more profoundly than other unemployed workers.
A. lead to greater unemployment.
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If a 50 percent increase in the price of pizza results in a 25 percent decrease in the quantity demanded of pizza, then the price elasticity of demand for pizza:
a. is equal to 0.5 and demand for pizza is inelastic. b. is equal to 0.5 and demand for pizza is elastic. c. is equal to 2 and demand for pizza is elastic. d. is equal to 2 and demand for pizza is inelastic. e. cannot be determined from the information provided.
To gain from price discrimination, price searchers
a. must charge a higher price to those with a more inelastic demand. b. must be pure monopolists. c. must have small economies of scale d. must have access to widely available natural resources.
If actual reserves in the banking system are $50,000, excess reserves are $5,000, and checkable deposits are $225,000, then the monetary multiplier is:
A. 10. B. 4. C. 5. D. 2.
The classic examples of natural monopolies over the years have been
A. public utilities. B. auto manufacturers. C. retail trade. D. agriculture.