Compared to long-term unemployment, short-term unemployment is more likely to be:
A. frictional unemployment.
B. structural unemployment.
C. a result of minimum-wage laws.
D. a result of union activity.
Ans: A. frictional unemployment.
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Institutional constraints, such as immigration policies, affect the shape and location of the labor supply curve.
Answer the following statement true (T) or false (F)
Refer to the data. Suppose government has already produced 4 units of this public good. The amount individual B is willing voluntarily to pay for the 4 th unit is:
Answer the question on the basis of the following information for a public good. P a and P b are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it. These people are the only two members of society.
A. $14.
B. $5.
C. $2.
D. $0.
Use the figure below to answer the following question.
If the output level is Q2, then there will be
A. greater marginal benefits than marginal costs of the product. B. minimum net consumer surplus. C. allocative efficiency. D. maximum deadweight losses.
Which of the following is a role of the Federal Deposit Insurance Corporation in the United States?
A) It determines the monetary policy of the country. B) It monitors the money supply. C) It controls the real rate of interest. D) It regulates banks that are insolvent.