If the income effect is ________ the substitution effect, the labor supply curve is vertical.
A. equal to
B. greater than
C. unrelated to
D. smaller than
Answer: A
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If unemployment equals the natural unemployment rate, then there
A) is zero unemployment. B) is only frictional or structural unemployment. C) are no job openings existing at the time. D) is less than full employment.
__________ countries have explicit requirements about the number of parties that can participate in an election.
A. Most B. Few C. None D. All
An individual with a diversified stock portfolio usually
a. holds only the stocks of conglomerates (firms that participate in many industries). b. deals with several brokerage houses. c. holds stock in several types of firms. d. holds stocks with several maturity dates.
Individual transferable quotas (ITQs):
A. promote efficiency and limit catches. B. promote efficiency in production but still lead to overfishing. C. limit catches but encourage production cost increases that are inefficient. D. have failed to limit catches or promote efficiency.