Which one of the following persons would be classified as unemployed by the Bureau of Labor Statistics?
What will be an ideal response?
Joe, who is on layoff waiting for better weather so he can return to his construction job
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If the government provides a subsidy of $1 per hour to employers for hiring workers, ________
A) the equilibrium real wage will increase B) labor demand will decrease C) the equilibrium employment will decrease D) labor supply will increase
Due to the existence of the FDIC, banks
A) have not changed their behavior even with the existence of insurance. B) are no longer concerned about net worth. C) become more cautious in making loans. D) may make riskier loans knowing that their depositors are insured.
A firm's total revenue is equal to
a. total quantity produced times marginal cost. b. total quantity produced times market price. c. marginal revenue times total quantity produced. d. market price divided by total quantity produced.
The Internet has created some special problems of intellectual property. One problem is that the
a. Internet is a monopoly, so the price of intellectual property exceeds marginal cost b. Internet market has not yet reached equilibrium c. property that can be downloaded, modified, and then re-sold d. marginal cost of enforcing property rights exceeds the marginal benefit e. price of intellectual property usually exceeds the marginal benefit