In the above figure, if a subsidy is granted that generates an efficient allocation of resources, then the output level will be
A) zero.
B) 50 units per week.
C) 150 units per week.
D) 250 units per week.
D
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Choose the correct statement.
A. The minimum wage results in decreased job search. B. An unregulated labor market cannot allocate the economy's scarce labor resources to the jobs in which they are valued more highly. C. The MSB from labor to workers is leisure foregone. D. In a labor market with an effective minimum wage, the MSB of labor is greater than its MSC.
Search and wait unemployment is another way to describe:
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. noncyclical unemployment.
Which of the following expressions represents the real exchange rate (?)?
A) E/P. B) EP/P. C) EP. D) EP/P. E) none of the above
The main goal of antitrust policy is to
A) encourage firms to produce at the MR = demand level. B) regulate natural monopolies. C) prevent the monopolization of industries. D) prevent the nationalization of industries.