Many regulated industries are not pure monopolies.
Answer the following statement true (T) or false (F)
True
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In the long run, those who are hurt by the minimum wage are
a. employers in non-minimum wage industries b. employers who have to pay more c. consumers who have to pay more for goods d. all of these
Find the natural rate of unemployment from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000
a. 17.5 percent b. 23.3 percent c. 24.6 percent d. 28.8 percent e. 38.3 percent
If there is a shortage of nurses, it is expected that
a. wages for nurses will go up as hospitals try to fill these positions. b. wages for nurses will go down because of the increased competition between hospitals. c. the return on the human capital investment of current nursing majors will decline. d. wages for nurses currently practicing will increase, but new nurses will experience lower wages in the future.
Refer to the figure above. What is the total surplus after Lithasia opens up to free trade?
A) $15 B) $25 C) $27 D) $35