Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called __________ unemployment
A) structural
B) cyclical
C) natural
D) frictional
D
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If $1000 was deposited in a bank and the reserve requirement is 0.20, how much is available for loans?
A) $900 B) $910 C) $800 D) $930
Suppose the production of helicopters is an industry characterized by increasing returns to scale and an Argentine firm, Cicare, is the only player in this market. The firm caters to the global market and earns a profit of $10 million. Flettner, a German firm has been considering entering this market for a while, but it is aware that its entry will cause each firm to lose about $4 million
Although a government subsidy allows Flettner to enter the helicopter market, the company is unable to reap profits in the long run. Which of the following could have led to this outcome? a. Flettner experienced high production costs due to inadequate supply of inputs. b. New firms had entered the helicopter industry. c. The German government ran a balance of payment deficit. d. The Argentine government retaliated by subsidizing Cicare. e. There was very low investment in research and development in this industry.
The term marginal revenue product (MRP) refers to the change in output if an additional worker is employed
a. True b. False
When the consumption of one good does not preclude another person from consuming the same good, then there is __________ in the consumption of the good
a. nonrivalry b. rivalry c. exclusivity d. nonexclusivity e. merit