Professor Tabarrok points out that it can take a long time to
A. combat the shocks that cause structural unemployment with positive shocks.
B. identify the causes of the shocks that cause structural unemployment.
C. adjust to shocks that cause structural unemployment.
D. reverse the shocks that cause structural unemployment.
Ans: C. adjust to shocks that cause structural unemployment.
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When comparing the market price of an input in a market characterized by bilateral monopoly to a perfectly competitive price
A) the bilateral monopoly price is always higher than the competitive price. B) there is no difference; the bilateral monopoly price equals the competitive price. C) the bilateral monopoly price is always less than the competitive price. D) the bilateral monopoly price can be higher than, lower than, or equal to the competitive price.
In the long-run, the entry of new firms in a competitive market shifts the aggregate supply curve to the left
a. True b. False Indicate whether the statement is true or false
The quantity theory of money seeks to explain the connection between money and
A) interest rates. B) unemployment. C) output. D) prices.
A graph illustrating how one variable changes over time is a Cartesian coordinate system.
Answer the following statement true (T) or false (F)