Occupational licensing has much the same effect as:
A. inclusive unionism.
B. exclusive unionism.
C. bilateral monopoly.
D. monopsony.
Answer: B
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A rent ceiling below the equilibrium rent will create
A) a more efficient allocation of housing. B) a larger number of apartments rented. C) no change in the number of apartments rented. D) increased search time and black markets.
What are the disadvantages of a standard form contract?
The high productivity of the U.S. economy results from using highly educated workers in a capital-intensive production process.
Answer the following statement true (T) or false (F)
Ceteris paribus, if structural unemployment increases, the economy is
A. Outside the production possibilities curve. B. On the fixed production possibilities curve. C. On the production possibilities curve that shifts inward. D. Inside the production possibilities curve.