A newspaper headline reads "A New Wave of Workers Enters the Job Market!" This wave of young, new entrants to the labor market is likely to lead to
A) no effect on the unemployment rate.
B) an increase in the natural unemployment rate.
C) a decrease in the natural unemployment rate but an increase in the actual unemployment rate.
D) a decrease in the unemployment rate.
E) a decrease in the country's potential GDP.
B
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Which of the following job market signals are less costly for high-quality workers to send than low-quality workers?
A) Spending long hours at the office B) Sending emails to coworkers and supervisors at night and on weekends C) Leaving voice-mail message for colleagues before or after regular business hours D) all of the above
A nation's monetary base changes when:
a. Central banks swap currencies with each other. b. Funds cross our imaginary line. c. The central bank reduces the reserve requirement. d. All of the above. e. None of the above.
Suppose that land is specific to agriculture, capital is specific to manufacturing, and labor is mobile between sectors. According to the specificfactors model, if this country begins importing manufactured goods, which factor will experience the highest unemployment?
a. Labor b. Capital c. Land d. No factors will experience unemployment.
For a monopolist, the reason that marginal revenue is less than price is
A. because of the U-shaped average revenue curve. B. because of the lack of competition in the market. C. because the monopolist must lower the price of the good in order to sell an additional unit. D. because of the perfectly elastic demand curve that the monopolist faces.