An individual who cannot find a job because his or her job skills have become obsolete is an example of
A. structural unemployment.
B. frictional unemployment.
C. seasonal unemployment.
D. cyclical unemployment.
Answer: A
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Workers work for after-tax wages, thus an income tax represents a reduction in the effective wage rate
a. True b. False
A third-degree price discriminating monopolist can sell its output either in the local market or on an internet auction site (or both)
After selling all of its output, the firm discovers that the marginal revenue earned in the local market was $20 while its marginal revenue on the internet auction site was $30. To maximize profits the firm should A) have sold more output in the local market and less at the internet auction site. B) do nothing until it acquires more information on costs. C) have sold less output in the local market and more on the internet auction site. D) sell less in both markets until marginal revenue is zero. E) sell more in both markets until marginal cost is zero.
The largest merger in American history was that of
a. Chemical Banking and Chase Manhattan in 1996. b. America Online and Time Warner in 2000. c. Gillette's acquisition of Duracell in 1985. d. Credit Suisse's acquisition of Northern Rock in 2007.
There are approximately ______ banks in the U.S
a. 8,000. b. 2,000. c. 100,000. d. 25,000. e. 4,000.