A person who worked 20 hours per week while going to school would be categorized as
a. employed
b. unemployed
c. not in the labor force
d. marginally unemployed
e. labor impaired
a. employed
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The social interest theory of regulation is that
A) regulators help producers maximize economic profit. B) regulation seeks to increase the government's revenue. C) regulation causes producers to produce at a point where they are earning normal profits. D) regulation seeks an efficient use of resources. E) regulation focuses on the consumers' interests and ignores producers' interests.
The natural unemployment rate includes
a. both frictional and structural unemployment. b. neither frictional nor structural unemployment. c. structural but not frictional unemployment. d. frictional but not structural unemployment.
Which firm would you expect to make the lowest profits, other things equal?
A. Bertrand oligopolist B. Sweezy oligopolist C. Stackelberg leader D. Cournot oligopolist
Fixed costs are the same in the short run as they are in the long run.
Answer the following statement true (T) or false (F)