If there is a mismatch between the skills of unemployed workers and the needs of employers, economists say that there is
A. structural unemployment.
B. frictional unemployment.
C. per capita unemployment.
D. cyclical unemployment.
Answer: A
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Refer to the above payoff matrix (in years of sentence) for two people (A and B) charged for robbery. Which of the following is the outcome of the dominant strategy without cooperation?
A. A confesses while B does not confess. B. A does not confess while B confesses. C. Both A and B confess. D. Both A and B do not confess.
If consumers believe the price of LCD televisions will decrease in the future, this will cause the demand for LCD televisions to increase now
Indicate whether the statement is true or false
Refer to Figure 12-15. Assume that the medical screening industry is perfectly competitive and that some firms are making short-run losses
Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people that yearly CT scans are critical for good health. Which of the diagrams in the figure best describes what happens in the industry? A) Panel A B) Panel B C) Panel C D) Panel D
Imagine that you borrow $1,000 for one year and at the end of the year you repay the $1,000 plus $100 of interest. If the inflation rate was 7%, what was the real interest rate you paid?
A) 17 percent B) 10 percent C) 7 percent D) 3 percent