At the peak of a business cycle, the
A) cyclical unemployment rate is positive.
B) unemployment rate is above the natural unemployment rate.
C) frictional unemployment rate is zero.
D) unemployment rate is below the natural unemployment rate.
E) natural unemployment rate is negative.
D
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A wholesale flower market is an example of ________
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
When the long-run average total cost curve is increasing, this means that there are
a. economies of scale b. diseconomies of scale c. constant returns to scale d. diminishing returns e. some fixed factors of production
A price floor set below the equilibrium price causes a surplus in the market
a. True b. False Indicate whether the statement is true or false
Education leads to external benefits because
A) the people who become better educated get better jobs. B) better educated people commit fewer crimes. C) better educated people are less lazy. D) little pollution is created when educating people. E) better educated people are more productive.