A skilled worker is an example of:
a. unproductive resources.
b. land resources.
c. labor resources.
d. capital resources.
e. both labor and capital resources.
c
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Most of the goods produced in an economy are ________
A) private goods B) public goods C) club goods D) inferior goods
Studies have shown that smoking cigarettes can cause heart disease. Assume this is true, and favorable weather has increased the tobacco harvest in North Carolina. In the market for cigarettes, these two developments would
A) increase demand and increase supply resulting in an increase in the equilibrium quantity and an uncertain effect on the equilibrium price of cigarettes. B) decrease demand and decrease supply, resulting in an increase in the equilibrium quantity and a decrease in the equilibrium price of cigarettes. C) decrease demand and increase supply, resulting in a decrease in the equilibrium price and an uncertain effect on the equilibrium quantity of cigarettes. D) decrease demand and increase supply, resulting in an increase in both the equilibrium price and the equilibrium quantity of cigarettes.
Refer to Market Diagram. The difference between producer's surplus as a monopolist and producer's surplus when setting price at what would exist in a competitive market is
The following questions refer to the accompanying market diagram. PC and QC are the equilibrium price and quantity if the firm behaves competitively, and PM and QM are the equilibrium price and quantity if the firm is a simple monopoly.
a. Area C + D + E - G - H.
b. Area C + D - H.
c. Area C + D + E - A - B.
d. Area E + H.
Unemployment benefits tend to be:
A. more generous in Europe, and this leads to fewer and shorter spells of unemployment. B. more generous in Europe, and this leads to more and longer spells of unemployment. C. less generous in Europe, and this leads to more and longer spells of unemployment. D. less generous in Europe, and this leads to fewer and shorter spells of unemployment.