Sandy has graduated from college and is devoting her time to searching for a job. She has seen plenty of openings but has not yet been offered one that best suits her tastes and skills. Sandy is
a. structurally unemployed. Structural unemployment exists even in the long run.
b. structurally unemployed. There is no structural unemployment in the long run.
c. frictionally unemployed. Frictional unemployment exists even in the long run.
d. frictionally unemployed. There is no frictional unemployment in the long run.
c
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The entry and exit of firms in a monopolistically competitive market guarantee that
A) firms can earn economic profits in the long run. B) price equals average total cost in the long run. C) marginal revenue equals marginal cost and average total cost is minimized. D) firms can earn economic profits in the short run.
Regulations designed to provide information to the marketplace so that investors can make informed decisions are called
A) disclosure requirements. B) efficient market requirements. C) asset restrictions. D) capital requirements.
Microeconomics differs from macroeconomics in that:
a. microeconomics studies individual decision making while macroeconomics examines aggregate decision making. b. microeconomics studies aggregate decision making while macroeconomics examines individual decision making. c. microeconomics utilizes positive economic analysis while macroeconomics utilizes normative economic analysis. d. microeconomics is concerned with consumer behavior while macroeconomics is concerned with firm behavior.
If a goat bites a visitor at a petting zoo, the owner would be covered by
a. Workers' compensation b. Property insurance c. Renter's insurance d. None of the above