Frictional unemployment is the result of
What will be an ideal response?
imperfect information and temporary periods of unemployment while workers are changing jobs.
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Suppose bad weather in Florida unexpectedly results in a much smaller citrus crop than had been projected. This would tend to cause the labor demand curve for citrus pickers to shift to the
A) left, increasing wages. B) right, increasing wages. C) left, decreasing wages. D) right, decreasing wages.
Four firms agree to operate as a monopoly and charge the monopoly price of $10 for their product and (jointly) produce the monopoly quantity of 50,000 units. If the competitive price for the product is $6, under the Clayton Act these four firms face treble damages of ________.
A) $600,000 B) $1,000,000 C) $3,000,000 D) $200,000
Which of the following entities can diversify risk?
A. Individuals B. Corporations C. Insurance companies D. All of these entities can diversify risk.
An increase in production costs is most likely to shift the:
A. aggregate demand curve to the right. B. aggregate demand curve to the left. C. short-run aggregate supply curve up (to the left). D. short-run aggregate supply curve down (to the right).