________ unemployment changes slowly and depends on ________
A) Frictional; the skills of the unemployed
B) Seasonal; the rate at which people enter and exit the labor force
C) Frictional; the rate at which people enter and exit the labor force
D) Structural; the rate at which people enter the labor force
E) Structural; the inflation rate
C
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In order to achieve the socially optimal level of output, goods that entail negative externalities should be:
A. taxed. B. banned. C. provided by the government. D. subsidized.
Positive expected profits:
A. increase product demand. B. discourage people from supplying goods. C. encourage people to supply goods. D. have no effect on supply decisions.
An external cost is built into the market price of a good and thus paid by the consumers
a. true b. false
When a business is considered by law to be a legal entity, it is known as a
A. partnership. B. corporation. C. proprietorship. D. conglomerate.