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a. and firms paying wages above equilibrium to improve worker health both create frictional unemployment.
b. creates frictional unemployment, while firms paying wages above equilibrium to improve worker health creates structural unemployment.
c. creates structural unemployment, while firms paying wages above equilibrium to improve worker health creates frictional unemployment.
d. and firms paying wages above equilibrium to improve worker health both create structural unemployment.
b
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A private auction is an auction in which
A) individuals know their own value of the good and everyone else's valuation, too. B) individuals have their own valuation of the good but don't know everyone else's. C) many auctions are auctioned off at the same time. D) only one good is auctioned off.
For years, your neighbor insisted she had no desire to own a computer. Recently, however, she purchased one and says she did so because all her relatives have computers and she wants to exchange e-mail with them. Your neighbor's behavior is an example of
A) a switching cost. B) the impact of negative market feedback. C) limited-pricing behavior. D) a network effect.
The underlying reason for the upward sloping nature of the supply curve is that
A. the production of most goods comes with increasing marginal benefits. B. the consumption of most goods comes with decreasing marginal utility. C. the production of most goods comes with increasing marginal costs. D. the consumption of most goods comes with increasing marginal utility.
The process of using resources to produce new capital is
A. research and development. B. investment. C. economic growth. D. consumption.