________ unemployment occurs due to a mismatch between the jobs that are available and the skills of workers seeking jobs.
A. Structural
B. Cyclical
C. Frictional
D. Voluntary
Answer: A
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Suppose a monopolist produces a positive level of output. If marginal costs are zero, this output level will occur where price elasticity of demand is exactly -1 unless there are recurring fixed costs.
Answer the following statement true (T) or false (F)
The originate-to-distribute business model has a serious ________ problem since the mortgage broker has little incentive to make sure that the mortgagee is a good credit risk
A) principal-agent B) debt deflation C) democratization of credit D) collateralized debt
Refer to the graph shown. If the firm is producing 120 units of output, profit is equal to:
A. $30. B. $38. C. $0. D. ?$38.
The 1920s was a period of alcohol prohibition in the United States. During the 1920s,
A) the purchase and sale of alcohol was illegal. B) people coordinated their alcohol production and consumption activities in illegal, underground markets. C) the supply of alcohol became quite inelastic. D) all of the above were true. E) none of the above were true.