Assume that movement from point A to point B represents a 15 percent change in the price of goods and services. What would be the corresponding change in the price of inputs?
a. no change
b. 15 percent increase
c. 15 percent decrease
d. 100 percent increase
b. 15 percent increase
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In the strategic view of bargaining:
a. You want to improve your opponent's outside options b. You want to decrease your outside options c. Bargaining is of a prisoner's dilemma game d. Bargaining is of a game of 'chicken'
When a monopoly decreases its output and sales, the output effect works to _____ total revenue, and the price effect works to _____ total revenue
Fill in the blank(s) with the appropriate word(s).
Of the following, which is the best example of structural unemployment?
(a) A computer programmer who quits his/her job to move to a warmer climate. (b) A construction worker who loses his/her job in the winter. (c) A car worker who loses his/her job during a recession. (d) A steel worker who is replaced by a robot.
Which of the following is an example of cyclical unemployment?
A. Qadir is employed in the summer as a lifeguard but cannot find a position in the winter B. Quincy left his job in Dallas to search for a new job in Idaho C. Quinlan worked as an engineer until he was laid off because of a decrease in aggregate demand D. Quinn has few job-related skills so she is never hired even though she continues to apply