In a perfectly competitive labor market, at the equilibrium wage rate:
A) cyclical unemployment is negative. B) frictional unemployment is positive.
C) frictional unemployment is zero. D) cyclical unemployment is positive.
C
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The working-age population is defined as the number of
A) people over the age of 16 who are not in jail, hospital, or other institution. B) people who have a job. C) people working full-time jobs who are over the age of 16. D) people looking for work.
The table above shows techniques that can be used to produce 100 shirts. The technique that is NOT technologically efficient is
A) W. B) X. C) Y. D) Z.
Reaching a positive-positive outcome through a commitment strategy:
A. will only benefit the players and will not serve public interest. B. can benefit everyone. C. will always benefit everyone. D. will not benefit anyone.
A Herfindahl-Hirschman Index of 10,000 would mean there is (are) _____ firm(s) in the industry.
Fill in the blank(s) with the appropriate word(s).