Structural unemployment
A. is due to seasonal changes.
B. arises from recessions.
C. is due to changes in the structure of the economy.
D. arises from the time it takes employers to find appropriate employees.
Answer: C
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In a sequential contestable market game
A) a small number of firms can behave like firms in perfect competition. B) the outcome is always a monopoly equilibrium. C) the dominant firm always makes a monopoly profit, while other firms make zero economic profits. D) a firm that enters the market first is protected from potential entrants by natural barriers.
Suppose AT&T issues a five-year bond with a face value of $10,000 that pays an annual coupon payment of $300. What is the interest rate that AT&T is paying on the borrowed funds?
a. 15% b. 3% c. 10% d. 33%
For a commitment strategy to work:
A. the punishment must occur immediately after the game is played. B. the punishment must be so bad that it outweighs the incentive to defect in the game. C. no player may have a dominant strategy. D. both players must agree to a punishment.
As foreign imports become a greater percentage of sales in oligopolized industries, the concentration ratio
A. becomes more accurate as a measure of concentration. B. becomes less accurate as a measure of concentration. C. continues at the same level of accuracy.