Which of the following is an example of structural unemployment?
a. The rise in unemployment for horse-stable workers after the development of gasoline-powered automobiles.
b. The rise in unemployment among farm workers after harvest.
c. The unemployment associated with workers changing jobs.
d. The increase in unemployment during recession.
a
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Which of the following prevents potential competitors from entering a monopolist's market?
a. legal restrictions b. diseconomies of scale c. product differentiation d. stable market demand e. rising marginal cost
One of the strongest arguments against active stabilization policy is
a. that recognition lags make timely intervention very difficult. b. the economy corrects itself very slowly. c. the inability of economic theory to suggest appropriate policy. d. the difficulty of obtaining agreement on monetary policy.
According to the official U.S. threshold, 35 percent of Americans live in poverty.
Answer the following statement true (T) or false (F)
A measure of the responsiveness of demand to changes in income, all other things being constant, is
A. cross price elasticity of demand. B. price elasticity of demand. C. income elasticity of demand. D. price income elasticity of demand.