Structural unemployment is often thought to explain relatively long spells of unemployment
a. True
b. False
Indicate whether the statement is true or false
True
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
For Bagels 'R' Us, ________ is a ________.
A. abiding by the agreement; dominant strategy B. cheating on the agreement; dominant strategy C. cheating on the agreement; dominated strategy D. abiding by the agreement; dominant strategy when Bagel World also abides
The cross-price elasticity of demand measures the
A) percentage change in the quantity demanded of one good in one location divided by the price of the same good in another location. B) absolute change in the quantity demanded of one good divided by the absolute change in the price of another good. C) percentage change in the quantity demanded of one good divided by the percentage change in the price of another good. D) percentage change in the price of one good divided by the percentage change in the quantity demanded of another good.
Refer to Table 12-1. The firm will not produce in the short run if the output price falls below
A) $8. B) $4. C) $3.20. D) $2.80.
Refer to Figure 17-5 to answer the following questions
a. What is the equilibrium quantity of firefighters hired, and what is the equilibrium wage? b. What is the equilibrium quantity of paralegals hired, and what is the equilibrium wage? c. Explain why firefighters might earn a higher weekly wage than paralegals. d. Suppose that comparable worth legislation is passed, and the government requires that firefighters and paralegals be paid the same wage, $800 per week. Now how many firefighters will be hired and how many paralegals will be hired?