The increase in unemployment that occurs during recessions and depressions is called
A. normal unemployment.
B. frictional unemployment.
C. structural unemployment.
D. cyclical unemployment.
Answer: D
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The demand for Exxon gasoline is ____ the demand for all gasoline.
A. exactly as elastic as and has a different slope than B. more elastic than C. less elastic than D. exactly as elastic and has the same slope as
A cooperative game is
A) companies colluding in order to make higher than competitive rates of return. B) the manner in which one oligopolist reacts to a change in price made by another oligopolist in the industry. C) a game in which firms will not negotiate in any way. D) when plans made by firms are known as game strategies.
A kinked demand curve is associated with
a. perfect competition. b. monopolistic competition. c. an oligopoly. d. public utilities.
A monopolist has four distinct groups of customers. Group A has an elasticity of demand of 0.2, B has an elasticity of demand of 0.8, C has an elasticity of demand of 1.0, and D has an elasticity of demand of 2.0. The group paying the highest price for
the product will be A) A. B) B. C) C. D) D.