Keynesians are skeptical of the classical theory that recessions are periods of increased mismatch between workers and jobs because
A. people are indifferent between being employed or not.
B. help-wanted advertising falls during recessions.
C. workers spend a lot of time searching for work in recessions.
D. help-wanted advertising rises during recessions.
Answer: B
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Tris owns the only auto repair shop on Lonely Island. Tris is a single-price monopoly, so Tris operates on the ________ part of the ________ curve
A) elastic; supply B) inelastic; supply C) inelastic; demand D) elastic; demand
The above figure shows the Lorenz curves for four different countries. Which country has the most unequal distribution of income?
A) country A B) country B C) country C D) country D
Less than 50% of two-parent poor families have income from earnings
Indicate whether the statement is true or false
For a resource in a perfectly competitive market, marginal revenue product is equal to the price of the resource
a. True b. False