Structural unemployment refers to unemployment resulting from
a. technological change
b. being in the wrong location at the wrong time
c. taking the time to find a better job
d. working at a job that does not challenge your abilities
e. a recession in the economy
A
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The Social Security program is ________ in that it redistributes income from ________
A) progressive; low earners to high earners B) regressive; low earners to high earners C) progressive; high earners to low earners D) regressive; high earners to low earners
A tariff is imposed on a good. This will ________ the domestic producer surplus, ________ the domestic consumer surplus, and ________ total surplus in the home country
A) increase; decrease; decrease B) increase; decrease; increase C) increase; remain unchanged; increase D) increase; increase; increase
When the demand for electricity peaks during the hottest days of summer, Florida Power and Light Company can generate more electricity by using more fuel and increasing the working hours of many of its employees
The company cannot, however, increase electric power production by building additional generating capacity. This means that the company is in the A) market run. B) short run. C) intermediate run. D) long run.
What is the most important characteristic of monopolistic competition? How do firms behave differently from perfect competitors?
What will be an ideal response?