This type of unemployment reflects the normal amount of unemployed workers who possess skills that will enable them to find another job
A) cyclical unemployment
B) frictional unemployment
C) structural unemployment
D) None of the above answers is correct.
B
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Consider the monopsony in the above figure. The 200th hour of labor creates how much added revenue per hour for the monopsony?
A) $10 B) $15 C) $20 D) None of the above answers is correct.
In which of the following market structures with two identical firms do both firms produce more than the Cournot outcome?
A) Stackelberg Oligopoly B) Cartel C) Perfect Competition D) None of the above
An economy produces only two goods: paper and scissors. Dyes from paper production pollute a nearby river. Use a production possibilities curve (PPC) to illustrate your explanation of how the unfettered market would fail to provide the efficient mix of paper and scissors.
What will be an ideal response?
Discouraged workers are ________ in the unemployment rate, and this tends to ________ the unemployment rate
A) counted; overstate B) counted; understate C) not counted; overstate D) not counted; understate