The current U.S. unemployment insurance program tends to
a. increase the incentive to switch occupations.
b. reduce the time workers stay unemployed.
c. make it more costly for unemployed workers to turn down available jobs.
d. raise the unemployment rate.
D
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The free-rider problem faced by private information-collection firms results in their
A) usually going out of business within a few years. B) collecting less than all the available information about the firms they investigate. C) being plagued by lawsuits. D) charging fees higher than can be justified by market conditions.
Which of the following is an example of price discrimination?
a. Lower admission prices to movies for senior citizens b. Lower prices for DVD players with fewer features than higher-priced players c. Higher prices for houses in California than in Nebraska d. A hair salon charging different prices for haircuts
The ________ broadly a market is defined, the more difficult it becomes to find ________.
A. more; substitutes B. less; goods independent of each other C. more; complements D. less; substitutes
Use the following graph, which shows the aggregate demand and aggregate supply schedule for a hypothetical economy, to answer the next question.Real Domestic Output Demanded (in billions)Price Level (index value)Real Domestic Output Supplied (in billions)$500350$3,5001,0003003,0001,5002502,5002,0002002,0002,5001501,5003,0001001,000If the quantity of real domestic output demanded decreased by $500 and the quantity of real domestic output supplied increased by $500 at each price level, the new equilibrium price level and quantity of real domestic output would be ________.
A. 250 and $2,000 B. 200 and $2,000 C. 150 and $1,500 D. 150 and $2,000