When workers voluntarily leave work while they look for better jobs, the resulting unemployment is called
A) structural unemployment.
B) frictional unemployment.
C) cyclical unemployment.
D) underemployment.
B
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Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.
The marginal expenditure of a monopsonist is $4. The wage it currently pays is $3. The labor supply curve has a constant elasticity. What is the elasticity of the labor supply?
A) 0.33 B) 0.66 C) 1 D) 3
A resource that is publicly owned and allocated under a system of unrestricted access is known as
(a) a socialist resource. (b) a collective resource. (c) a common property resource. (d) a transferable resource.
According to the above table, if the fourth and fifth largest firms in the industry merge, the four-firm concentration ratio in the industry will be
A. 84.1 percent. B. 69.0 percent. C. 35.8 percent. D. 82.5 percent.