Collin has lost his job with a telemarketing company, which has moved its operation to India. Collin is considered
A. frictionally unemployed.
B. a discouraged worker.
C. seasonally unemployed.
D. structurally unemployed.
Answer: D
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The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to ________ and producer surplus is equal to ________
A) area A + area B + area C + area D; area E B) area B + area C + area D; area A + area E C) area A; area E D) area C + area D; area B + area E E) area E; area A + area B + area C + area D
In April, market analysts predict that the price of titanium will fall in May. What happens in the titanium market in April, holding everything else constant?
A) The demand curve shifts to the right. B) The supply curve shifts to the left. C) The quantity demanded and the quantity supplied increase. D) The supply curve shifts to the right.
When graphing the per worker production function, ________ is on the horizontal axis and ________ is on the vertical axis
A) labor; real GDP B) the capital stock; real GDP C) the capital-labor ratio; real GDP per worker D) capital per worker; the labor force
If the social benefit is greater than the private benefit in a particular market, then the socially optimal equilibrium will be at a quantity:
A. greater than the private level. B. equal to the private level. C. less than the private level. D. greater than or less than the private level, depending on the size of the external costs.