A firm with market power will be able to sell all of their output at any price they desire.
Answer the following statement true (T) or false (F)
False
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Why does a demand curve with a constant slope not have a constant elasticity?
What will be an ideal response?
________ unemployment occurs due to a mismatch between the jobs that are available and the skills of workers seeking jobs.
A. Structural B. Cyclical C. Frictional D. Voluntary
How will an increase in population affect the labor market?
A) It will increase the supply of jobs. B) It will shift the market supply curve. C) It will cause a decrease in the quantity of labor demanded. D) It will increase the opportunity cost of leisure.
Which of the following is an example of a monetary policy?
A) The federal government increases income tax rates on people earning more than $250,000. B) The duration of unemployment benefits is extended to 99 weeks. C) The Federal Reserve increases interest rates. D) Congress authorizes a cut in spending on education.