Unemployment compensation payments:
A. rise during a recession and thus reduce the severity of the recession.
B. rise during a recession and thus increase the severity of the recession.
C. rise during inflationary episodes and thus reduce the severity of the inflation.
D. fall during a recession and thus increase the severity of the recession.
Answer: A
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All possible gains from specialization and exchange would be fully exploited only under which market structure?
A) Pure monopoly B) Perfect competition C) Oligopoly D) Structures allowing for price-searching activity E) Structures where entry is restricted
How is happiness related to development?
What will be an ideal response?
According to the above figure, if the government imposes a minimum wage equal to Wm, the effect will be
A) a reduction in employment from Qe to Qm. B) an increase in employment from Qe to Qm. C) a decrease in labor supplied, from C to E. D) an increase in labor supplied, from A to E.
According to William Shepherd's examination of competitive trends in the U.S. economy, a tight oligopoly
a. is a single firm that controls the entire market and can block entry b. is an industry in which the top four firms supply more than 60 percent of the market, have stable market shares, and cooperate with each other c. is an industry in which the top four firms supply more than 60 percent of the market, have unstable market shares, and do not cooperate with each other d. is an industry in which a single firm has over half the market share and no close rival e. is an industry in which a single firm has over one-third of the entire market, the market share is stable, and the firm cooperates with other firms in the industry