Someone who has been temporarily laid off and is looking for work in the meantime is known as a ______.
a. job loser
b. job leaver
c. reentrant
d. new entrant
a. job loser
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A model refers to:
A) a perfect replica of reality. B) a simplified description, or representation, of reality. C) facts, measurements, or statistics that describe the world. D) a set of facts established by observation and measurement.
Although some economists believe network externalities are important barriers to entry, other economists disagree because
A) they believe that the dominant positions of firms that are supposedly due to network externalities are to a greater extent the result of economies of scale. B) they believe that most examples of network externalities are really barriers to entry caused by the control of a key resource. C) network externalities are really negative externalities. D) they believe that the dominant positions of firms that are supposedly due to network externalities are to a greater extent the result of the efficiency of firms in offering products that satisfy consumer preferences.
If the price level increases, we would expect consumers to
a. raise their consumption functions. b. move downward along their consumption functions. c. lower their consumption functions. d. move upward along their consumption functions.
In the U.S., combined wealth losses by firms from litigation have been estimated to be___________ per lawsuit.
A. $2 billion B. $200 million C. $21 million D. $20 billion