Frictional unemployment increases when
A) real GDP decreases and the unemployment rate rises.
B) the number of workers who quit one job to find another increases.
C) discouraged workers drop out of the work force.
D) workers are replaced by machines and the unemployed workers do not have the skills to perform new jobs.
B
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A tax has an excess burden whenever
A. people are unable to alter their behavior to avoid paying it. B. government seeks to raise it. C. it raises a great deal of revenue. D. it induces people to change their behavior.
When labor inputs are finely divisible, the average product of labor curve is ______ sloping at L if the marginal product is ______ the average product.
A. downward; above B. upward; above C. upward; below D. vertical; equal to
Per capita GDP will definitely increase if
A. Population increases more rapidly than GDP. B. GDP and population increase at the same rate. C. Population and GDP decrease at the same rate. D. GDP increases more rapidly than population.
A single union that supplies all the labor in a particular market is an example of:
A. a monopoly. B. an oligopoly. C. a bilateral monopoly. D. a monopsony.