The unemployment that results from the process of matching workers and jobs is called frictional unemployment
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is not necessarily true in the long for a competitive industry?
a. Firms earn zero profits. b. Firms set MC = MR. c. A firm will not produce if the market price is less than their break-even price. d. The long-run supply curve is more elastic than the short-run supply curve.
In Cambodia during the early 2000s, the illiteracy rate for girls between the ages of 15 and 24 was __________ and the illiteracy rate for males in this age group was ______________.
a. 86%; 88% b. 80%; 83% c. 67%; 70% d. 72%; 69%
In a market economy, which of the following will most likely cause a prolonged milk shortage?
a. an increase in the demand for milk b. an increase in the supply of milk c. imposition of a price floor above the equilibrium price of milk d. imposition of a price ceiling below the equilibrium price of milk
You and your friend work together for 4 hours to produce a total of 8 bookcases. What is productivity?
a. 16 bookcases b. 8 bookcases c. 2 bookcases per hour d. 1 bookcase per hour