Which of the following types of unemployment is likely to exist in an economy that is at its potential output level?
a. Cyclical unemployment only
b. Structural unemployment only
c. Frictional, cyclical, and seasonal unemployment only
d. Frictional, seasonal, and structural unemployment only
e. Seasonal unemployment only
d
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Refer to the table above. Assuming that the market consists of only these three sellers, what is the market supply when the price is $2?
A) 39 units B) 52 units C) 89 units D) 41 units
Compare two situations. (A ) A firm is not legally responsible for damages that result from air pollution caused by its production of steel. (B ) A firm is legally responsible for damages that result from its production of steel
Ronald Coase argued that if the property rights are assigned and transactions costs are low A) bargaining between the firm and the victims of the air pollution caused by the firm would lead to an equal reduction in pollution in situation (A ) and situation (B ). B) bargaining between the firm and the victims of the air pollution caused by the firm would lead to a greater reduction in pollution in situation (A ) than situation (B ). C) bargaining between the firm and the victims of the air pollution caused by the firm would lead to a smaller reduction in pollution in situation (A ) than situation (B ). D) bargaining between the firm and the victims of the air pollution caused by the firm will result in little reduction of pollution in either situation (A ) or (B ) because the firm has greater economic and political power than the victims.
Assume a firm sells two complementary products. Bundling is more likely to be a successful price discrimination strategy when one group of customers is willing to pay a higher price for one of the items in the bundle and another group is willing to
pay a higher price for the other item. Indicate whether the statement is true or false
A situation in which a worker can be hired without being in a union but has to join a union after a specified period of time is a
A) closed shop. B) union shop. C) open shop. D) restricted shop.