If demand falls, what happens to equilibrium price and quantity?
What will be an ideal response?
price declines; quantity falls
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Both screening and signaling:
A. are ways to decrease information asymmetry between two parties. B. correct inefficiency in the market. C. can increase surplus gained in a market. D. All of these statements are true.
If prices rise within a country, then, other things equal, the value of a unit of domestic currency will:
a. rise in both the domestic and the foreign exchange markets. b. fall in both the domestic and the foreign exchange markets. c. rise in the domestic market and fall in the foreign exchange market. d. fall in the domestic market and rise in the foreign exchange market. e. fluctuate unpredictably in both domestic and foreign exchange markets.
Because of economic scarcity
a. there are not enough jobs for everyone b. people are afraid to become entrepreneurs c. the government interferes in the economy d. businesses cannot obtain the resources they need e. people and organizations have to allocate resources carefully
Structural unemployment is unemployment caused by:
A. temporary changes in jobs. B. discrimination. C. the time required to match employers and workers. D. a mismatch between worker skills and employer requirements.