According to this Application, the more unhappy unemployed individuals were
A) the more likely they were to remain unemployed.
B) the longer they collected unemployment benefits.
C) the more they congregated around others who were unemployed.
D) the more aggressive they would be to try to find a job.
D
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Answer the following statements true (T) or false (F)
1. In a mature industry, all firms operate with constant returns to scale. 2. On a cost/output graph, the average fixed cost is constructed as a straight horizontal line. 3. Marginal cost crosses the average variable cost and the average total cost at their lowest points. 4. The average fixed cost remains constant even in the long run. 5. Marginal cost is related inversely to the marginal product.
To fix the foreign currency price of domestic currency below the free market equilibrium rate, a government must:
a. sell both its own currency and foreign exchange. b. buy its own currency and sell foreign exchange. c. buy both its own currency and foreign exchange. d. sell its own currency and buy foreign exchange. e. revalue its own currency.
An increase in the price of gasoline shifts the demand for tires to the
a. left, because gasoline and tires are substitutes. b. left, because gasoline and tires are normally used together. c. right, because gasoline and tires are substitutes. d. right, because gasoline and tires are normally used together.
Suppose your own demand curve for tomatoes slopes downward. Suppose also that, for the last tomato you bought this week, you paid a price exactly equal to your willingness to pay. Then
a. you should buy more tomatoes before the end of the week. b. you already have bought too many tomatoes this week. c. your consumer surplus on the last tomato you bought is zero. d. your consumer surplus on all of the tomatoes you have bought this week is zero.