The short-term unemployment caused by the ordinary difficulties of matching employee to employer is called:
What will be an ideal response?
frictional unemployment.
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An incentive
A) could be a reward but could not be a penalty. B) could be a penalty but could not be a reward. C) could be either a reward or a penalty. D) is the opposite of a tradeoff.
Which of the following statements is TRUE?
A) A monopoly cannot set price and quantity such that the point lies above the demand curve. B) A monopoly can charge whatever it wants. C) Profit maximization occurs by setting price first. D) Both A and B.
These are the cost and revenue curves associated with a firm.
Assuming the firm in the graph shown is producing Q1 and charging P3, it is likely showing the cost and revenue curves of a monopolistically competitive firm that is:
A. earning zero economic profits. B. earning positive economic profits. C. It is impossible to tell from the graph provided. D. earning negative economic profits.
Along the purely competitive firm's demand curve, average revenue is equal to marginal revenue.
Answer the following statement true (T) or false (F)