A network externality occurs when
A) the usefulness of a good is affected by celebrities who use the good.
B) there is production cost savings from being networked with buyers.
C) the usefulness of a good is affected by how many other people use the good.
D) there is production cost savings from being networked with suppliers.
C
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Unemployment that develops as old industries die off is known as ________
A) cyclical unemployment B) structural unemployment C) frictional unemployment D) voluntary unemployment
The National Labor Relations Board
a. enforces antitrust laws against unions. b. enforces workers' rights to unionize. c. acts as a union's representative in collective bargaining. d. is required to approve all collective bargaining agreements before they can be enforced.
Based on the circular flow model, money flows from households to businesses in:
A. factor markets. B. product markets. C. neither factor nor product markets. D. both factor and product markets.
A monopoly may arise due to:
A. a patent. B. network externalities. C. large economies of scale. D. All of these