According to the text, the probability of an unemployed person finding a job doubles when
A) his unemployment benefits expire. B) the economy enters a recessionary phase.
C) his unemployment benefits are extended. D) he is threatened with arrest.
A
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Among the nations listed, which of the following has the most open economy?
A. Germany B. The Netherlands C. The United States D. Japan E. Canada
The adverse supply shocks experienced during the 1970s strengthened the Philips Curve relationship between inflation and unemployment
Indicate whether the statement is true or false
Unions may lower real wages in the nonunion sector because
A. Union firms can easily hire nonunion workers for a lower wage. B. Workers who are displaced by higher wages in the unionized sector increase the labor supply in the nonunion sector. C. Nonunion firms adjust wages to avoid the threat of unionization. D. Nonunion firms have difficulty attracting skilled workers away from the unions.
What is always TRUE about the short-run equilibrium position for a firm in perfect competition?
A) MR = MC = P = ATC = AR B) TR = TC C) MR = MC = P = AR D) MC = ATC