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

Economics

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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

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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

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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

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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.

Economics