The Bureau of Labor Statistics' U-5 measure of joblessness includes marginally attached workers
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following barriers to entry can best explain the continued success of a product that has been shown to be, in some way, harmful to the health of consumers?
A) Patent. B) Consumer lock-in. C) Brand loyalty. D) Ownership of an essential resource.
Which type of tariff is used to offset subsidies on exports entering the United States?
a. antidumping duties b. countervailing duties c. export duties d. safeguard duties levied under the escape clause
Figure 12-5 shows cost and demand curves facing a typical firm in a constant-cost, perfectly competitive industry. Refer to Figure 12-5. If the firm's fixed cost increases by $1,000 due to a new environmental regulation, what happens in the diagram above?
A) All the cost curves shift upward.
B) Only the average variable cost and average total cost curves shift upward; marginal cost is notaffected.
C) Only the average total cost curve shifts upward; the marginal cost and average variable cost curves are not affected.
D) None of the curves shifts; only the fixed cost curve, which is not shown here, is affected.
Why are free riders a common problem for public goods?
A. Public goods are non-excludable and therefore people do not have to pay for the good to use it. B. Public goods are non-rivalrous and therefore one person's use diminishes another's use. C. Public goods are non-rivalrous and therefore people do not have to pay for the good to use it. D. Public goods are non-excludable and therefore one person's use does not diminish another's use.