France is considering implementing policies that will reduce the duration of job search. A possible option is for France to
A) reduce unemployment benefits.
B) help negotiate higher union benefits for employed workers.
C) increase the minimum wage.
D) require all residents between the ages of 19 and 26 to obtain a part-time or full-time job.
E) Both answers A and B are correct.
A
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A surplus is said to exist when, at prevailing prices,
A) demand is greater than supply. B) quantity supplied is greater than quantity demanded. C) scarcity is eliminated. D) supply and demand are in harmonic equilibrium.
In a first-price sealed-bid auction, ________
A) bidders submit their bids privately B) bidders place their bids one after another publicly C) bidders know each other's bids D) bidders bid above their willingness to pay
Refer to the above table. What is the absolute price elasticity of demand if a price falls from $7 to $6.50?
A) 0.85
B) 1.08
C) 1.17
D) 0.92
The advantage of an isoelastic demand curve is that:
A. both price and income elasticities are constant along the curve. B. income elasticity is constant and price elasticity changes along the curve. C. price elasticity is constant and income elasticity changes along the curve. D. both price and income elasticity change along the curve.