The costs of unemployment is (are)
a. foregone output and psychological effects
b. foregone output and physical effects
c. psychological and physical effects
d. foregone output, psychological effects and physical effects
e. foregone output
D
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Use the following graph for a perfectly competitive firm generating a loss in the short run to answer the next question.
Which of the following market changes would allow the firm to earn an economic profit?
A. an increase in the number of firms entering the industry B. a decrease in market demand C. a decrease in the price of the industry's product D. an increase in market demand
The above table shows the percent of sales held by the four largest firms in an industry
a) Calculate this industry's four-firm concentration ratio. b) Is this industry competitive? c) What market type does it most likely represent?
The theory of comparative advantage shows that the gains from international trade result from producing: a. at a lower opportunity cost. b. at a lower absolute cost
c. a labor-intensive good. d. a capital-intensive good.
Which of the following is an example of an in-kind transfer?
A. Medicaid. B. Social Security. C. Income transfers. D. TANF.