Frictional unemployment refers to:
a. people who spend relatively long periods out of work.
b. unemployment related to the ups and downs of the business cycle.
c. people who are out of work and have no job skills.
d. short periods of unemployment needed to match jobs and job seekers.
d
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Suppose a paper mill earns $1,000,000 in profits when it pollutes a river, and it can abate pollution at a cost of $A. The effects of the pollution are confined to a single farmer who earns $400,000 if the water he uses from the river is clean and $300,000 if it's polluted. If _______, then abatement would be efficient.
A. A < 300,000 B. A > 100,000 C. A < 100,000 D. A < 400,000
A residual demand curve:
A. shows the relationship between the market price and the quantity demanded by consumers at each price. B. shows the relationship between a firm's output and the market price given the prices charged by the firm's rivals. C. shows the relationship between a firm's output and the market price given the outputs of the firm's rivals. D. shows the remaining demand for a good after a firm's rivals have sold their output.
If fewer U.S. dollars are needed to buy a Swiss franc, then
a. Swiss goods become relatively more expensive to U.S. residents b. U.S. residents buy fewer francs c. U.S. goods become relatively cheaper to Swiss residents d. U.S. residents buy more Swiss goods e. U.S. residents supply more francs
The music production industry is an example of a(n) ________ industry.
A. perfectly competitive B. monopolistic C. oligopolistic D. monopolistically competitive