Frictional unemployment exists because:
A) firms do not make an attempt to advertise the vacancies they have.
B) unemployment benefits are capped in most economies.
C) firms and workers have imperfect information about each other and the state of the economy.
D) job markets are heavily regulated by the government..
C
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Use the following figure to answer the next question.
At which point does marginal cost (MC) equal average variable cost (AVC)?
A. Point B B. Point C C. Point D D. Point A
Which of the following is true if a firm shuts down? i. The price is less than minimum average variable cost. ii. The firm is able to avoid an economic loss. iii. The firm incurs a loss equal to its total variable cost
A) i only B) i and ii C) i and iii D) iii only E) ii only
A firm's labor demand curve is typically
A. downward sloping. B. a horizontal line. C. upward sloping. D. a vertical line. E. associated with a slope equal in absolute value to the slope of the labor supply curve.
Other things being equal, the effects of a decrease in the price of orange juice, is represented by which of the following?
A. A rightward shift in the demand curve for orange juice. B. An increase in the quantity demanded for orange juice. C. A leftward shift in the demand curve for orange juice. D. A decrease in the quantity demanded orange juice.