In conditions of full employment
A) no one in or out of the labor force is unemployed.
B) the only unemployment results from a normal frictions and structural mismatches in the labor market.
C) the only unemployment results from cyclical swings in economic activity.
D) no one in the labor force is unemployed.
B
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As more people imported cars from abroad, service facilities became widely available. This increased the value of imported cars to those who owned one. This is an example of a(n) ________
A) pecuniary externality B) network externality C) moral hazard D) adverse selection
After employing her last laborer, Rachel notices that her Average Product has decreased. True or False: Her marginal cost is greater than her average variable cost
Indicate whether the statement is true or false
Which of the following is closest to the economist’s definition of perfect competition?
A. The airline industry B. The soft drink industry C. The fishing industry D. Cellular telephone service
The price of a gallon of gasoline was $1.35 in 2000 when the CPI equaled 1.68. The cost of a gallon of gasoline was $2.38 in 2016 when the CPI equaled 2.40. The real cost of a gallon of gasoline between 2000 and 2016:
A. decreased. B. may have either increased or decreased. C. remained constant. D. increased.