What is cyclical unemployment?
What will be an ideal response?
Cyclical unemployment is the unemployment that accompanies fluctuations in real GDP.
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The efficient quantity of output of a product with external costs of production is
A) where the demand curve and the producer's supply curve intersect. B) where the marginal social cost curve and marginal social benefit curve intersect. C) as low as possible. D) zero.
Milky Moo and Mega Cow are the only sellers of milk. Milky Moo's supply function is QsMMoo = 12P - 6 at prices above $0.50 and zero at prices below $0.50. Mega Cow's supply function is QsMCow = 9P - 3 at prices above $0.33 and zero at prices below $0.33. At a price of $0.45:
A. the market supply of milk is between 9 and 10 units. B. the market supply of milk is between 4 and 5 units. C. the market supply of milk is between 5 and 6 units. D. the market supply of milk is between 1 and 2 units.
A warranty offered by a seller is one way to overcome: a. A warranty offered by a seller is one way to overcome:. b. a negative externality problem
c. an adverse selection problem. d. a free-rider problem.
About 18% of the world's population lives in a low income country. Approximately what percentage of pharmaceutical sales are made in low income countries?
A. 20% B. 12% C. 5% D. 1%