When people become unemployed because of a higher minimum wage, this type of unemployment is called:
a. frictional.
b. structural.
c. cyclical.
d. abnormal.
b
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In the United States in 2014, the percentage of firms that employed between 3 and 199 workers and offered health insurance as a fringe benefit to the workers was about
A) 29%. B) 42%. C) 54%. D) 98%.
For a natural monopoly, long-run average costs
A) fall as output increases. B) rise as output increases. C) fall as output falls. D) rise as output falls.
The economic theory of demand assumes that
What will be an ideal response?
Suppose that new demands greatly reduce the proved reserves of titanium to unexpectedly low levels, and it appears that the new demands will continue. If the market price is unregulated, we should expect that the price will
a. rise sharply, calling forth added exploration and more effective (and more costly) recovery methods, resulting in additional new supplies of titanium. b. rise sharply, calling forth new ways for manufacturers to conserve titanium and to find substitutes for it. c. over time, bring the quantity supplied of titanium into balance with the quantity demanded. d. do all of the above.