Fred lost his factory job, replaced by welding robots. He has now given up looking for work. Fred is:
a. Not unemployed
b. Frictionally unemployed.
c. Structurally unemployed.
d. Cyclically unemployed.
a
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The benefit received from the continuance of an environmental good is called
a. user value c. existence value b. stewardship d. vicarious consumption
Short-run supply curves for perfectly competitive firms tend to be upward sloping because:
A) there is diminishing marginal product for one or more variable inputs. B) marginal costs increase as output increases. C) marginal fixed costs equal zero. D) A and B are correct. E) B and C are correct.
The union shop represents a compromise over labor's control of the labor supply
Indicate whether the statement is true or false
A factor market is any place or process where
A. Finished services are bought and sold. B. Land, labor, or capital is bought and sold. C. Finished goods are bought and sold. D. None of the choices are correct.