Which of the following groups tends to have the highest unemployment rate?
A. Asian adult women
B. Hispanic adult men
C. African-American teenagers
D. White adults
Answer: C
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Which of the following statements is (are) true of a monopoly? (i) A monopoly has the ability to set the price of its product at whatever level it desires. (ii) A monopoly's total revenue will always increase when it increases the price of its product. (iii) The more a monopoly increases output, the higher the profits
a. (i) only b. (ii) only c. (i) and (ii) only d. (ii) and (iii) only
Which of the following is an explanation for the existence of frictional unemployment?
a. efficiency wages b. minimum-wage laws c. unions d. job search
Which one of the following statements is true?
a. The demand for water tends to be price inelastic for both residential and irrigation uses b. The demand for water tends to be price elastic for both residential and irrigation uses c. The demand for water tends to be price elastic for residential uses but price inelastic for irrigation uses d. The demand for water tends to be price inelastic for residential uses but price elastic for irrigation uses e. The demand for water is more inelastic in the long run
Which of the following factors will decrease the current demand for a product?
What will be an ideal response?