The two fundamental causes of unemployment at full employment are
A) demographic change and decreases in the demand for labor.
B) job search and job rationing.
C) seasonal jobs and technological change.
D) foreign competition and financial bankruptcies.
E) decreases in labor productivity and more generous retirement benefits.
B
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Which of the following is true?
i. When the world price of a good is lower than the price that balances domestic supply and demand, a country gains from exporting the good. ii. Compared to a no-trade situation, imports make consumers better off. iii. Quotas raise the domestic price of imported goods. A) Only i B) Only ii C) Only iii D) i and ii E) ii and iii
A tax equal to the external marginal cost of an activity yields the efficient level of production because the tax
A) achieves the competitive equilibrium. B) forces producers to face all costs of production including the external cost. C) ensures greater profits for the firm. D) eliminates all pollution.
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
Considering the information in the table shown, the bundle of goods that will derive the highest total utility for Jack is:
A. E.
B. B.
C. C.
D. D.
An example of peak pricing is charging
A. more for long-distance phone calls in the daytime. B. less for electricity at night. C. more for public transportation in rush hours. D. All of the above are true.