Higher unemployment insurance benefits tend to increase unemployment because they
What will be an ideal response?
reduce the opportunity cost of job search and, hence, increase the search time
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Compared with other worker complaints, developing proof of discrimination is particularly difficult
Indicate whether the statement is true or false
A monopolist can earn an economic profit only when:
a. marginal cost equals marginal revenue. b. marginal cost equals price. c. average total cost is less than price. d. all of these.
Each point on the demand curve indicates
a. the demand for the product. b. the quantity demanded at that price. c. the amount that people need. d. the amount people want to buy at different income levels.
Which is assumed to be most limited in scope under a market system?
A. Freedom of choice. B. Government. C. Competition. D. Freedom of enterprise.