How would it affect the unemployment rate if the Bureau of Labor Statistics counted as unemployed both? (1) discouraged workers and? (2) people who work? part-time but would prefer to work? full-time?
What will be an ideal response?
The unemployment rate would increase.
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Sammy has a drone that he values at $1,500. Frank values the same drone at $1,000. The government offers a subsidy of $800 to the buyers of drones, and Sammy and Frank agree on a price of $1,600
Producer surplus is ________ and consumer surplus is ________. A) $100; $200 B) $700; $600 C) $200; $1,400 D) $300; $100
Antitrust law is law that
A) does not allow individuals to open trust savings accounts. B) prohibits competition in certain industries. C) prohibits certain kinds of market behavior by firms. D) allows firms under special circumstances to be a monopoly.
The MRP curve for labor a. is the same as the demand curve for labor for a competitive firm. b. is the same as the supply curve for labor to a competitive firm. c. will shift up when market wages rise
d. is characterized by both (a) and (b).
The economic profits of many monopoly firms are reduced as a result of
a. rent-seeking activity b. government regulation c. demand inducement d. rent-seeking activity and price floors e. both a. and b.