Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of:
a. structural and frictional unemployment.
b. cyclical and frictional unemployment.
c. structural and cyclical unemployment.
d. structural, frictional, and cyclical unemployment.
a
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In this situation, the monopoly's profits are:
a. 0.40. b. 0.16. c. 0.12. d. 0.08.
One of the defining characteristics of an oligopoly is that:
A. the strategic interactions between a firm and its rivals have a major impact on its profits. B. no single firm has an impact on the market as a whole. C. there are only a few buyers in the market. D. there are no barriers to entry to the market.
Which of the following explains why big business typically spends more on rent-seeking activities than consumers?
A. Lobbying is a public good to consumers. B. Lobbying is a public good to businesses and labor unions in the involved firms. C. Labor unions in the involved firms. D. Lobbying is a public good to businesses.
Explain the relationship between interest rates and (1) investments in housing, and (2) business investments.
What will be an ideal response?