The government can facilitate the transfer of unskilled workers to high-skilled jobs by
A) increasing tariffs to speed the development of jobs requiring skilled labor.
B) laying off skilled workers to provide jobs for unskilled workers.
C) providing assistance for education and training for unskilled workers.
D) increasing tariffs to help unskilled workers.
C
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In a voluntary exchange,
A) both parties tend to receive more in value than they give u
Perfect competition is efficient because all the following conditions hold except ________
A. total product is maximized B. firms maximize profit and produce on their supply curves C. consumers get a real bargain and pay a price below the value of the good D. firms minimize their average total cost of producing the good
Which requirement for perfect competition rules out trade associations or other collusive arrangements in which firms work together to influence price?
A. Freedom of entry and exit B. Homogeneity of product C. Perfect information D. Numerous small firms and customers
Externalities
A. Are the costs or benefits of market activities that "spill over" onto third parties. B. Occur because demand is hidden. C. Occur because of government failure. D. Occur because of selfish consumers.