People who failed to look for a job are classified as
A. unemployed.
B. underemployed.
C. out of the labor force.
D. part time employed.
Answer: C
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A monopoly is inefficient because: a. consumers are forced to pay higher prices for products
b. firms are able to earn economic profits. c. the cost of increased production is less than the value that society places on it. d. price exceeds marginal revenue.
A technological improvement in the production of wireless earbuds would
A. increase the supply of wireless earbuds. B. decrease the demand for wireless earbuds. C. decrease the supply of wireless earbuds. D. increase the demand for wireless earbuds.
Minimum wage laws contribute to a higher unemployment rate by
A. pushing wages below the market clearing level in all labor markets. B. raising wages above the market clearing level in some labor markets. C. raising wages above the market clearing level in all labor markets. D. pushing wages below the market clearing level in some labor markets.
A move from D4 to D3 is a(n) _____.
A. an increase in quantity demanded
B. a decrease in quantity demanded
C. an increase in demand
D. a decrease in demand