The natural rate of unemployment
A. increases during recessions.
B. equals the sum of frictional and cyclical unemployment.
C. equals the sum of frictional and structural unemployment.
D. is always less than full employment rate of unemployment.
Ans: C. equals the sum of frictional and structural unemployment.
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Which of the following is always a violation of the antitrust law?
A) price fixing among competitors B) resale price maintenance C) tying arrangements D) predatory pricing
The two largest auto manufacturers, Toyota and GM, have experimented with hydrogen powered cars in the past, and they are currently considering the decision to introduce a hydrogen powered car into the commercial automobile market
The payoffs from the possible actions are measured in millions of dollars per year, and the possible outcomes are summarized in the following game matrix: GM produces GM does not produce Toyota produces -10, -10 50, 0 Toyota does not produce 0, 40 0, 0 If both firms enter the market simultaneously, what is the Nash equilibrium? A) Toyota produces and GM does not produce. B) GM produces and Toyota does not produce. C) There are two Nash equilibria - GM produces and Toyota does not produce, or Toyota produces and GM does not produce. D) There is no Nash equilibrium in this game.
How many elderly people are covered by Medicare?
A. one third B. one half C. almost all D. almost none
Usually an abundance of natural resources ________ average labor productivity.
A. doubles B. increases C. has no effect on D. decreases