When high-school and college graduates apply for jobs in the labor markets,
A. Job applicants are the "buyers" while employers are the "sellers".
B. Job applicants are the "sellers" while employers are the "buyers".
C. Job applicants and employers are both "sellers".
D. Job applicants and employers are both "buyers".
Answer: B
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A natural monopoly has
A. many producers of the same product. B. easy access to the market. C. a single firm providing the industry's output. D. one buyer of output.
Governments sometimes subsidize domestic industries. When this occurs
A) the governments will not impose tariffs. B) the subsidized sell less in international markets because it is more profitable to sell at home. C) the subsidized industries have an advantage on international markets relative to non-subsidized firms. For this reason, other countries often impose tariffs on the subsidized imports. D) the subsidized industries have an advantage on international markets relative to nonsubsidized firms. However, this is not an argument for imposing tariffs and tariffs would violate international agreements.
_____ increases with the variability of outcomes and the underlying degree of randomness in the environment that can affect a business relationship
a. The problem of double marginalization b. Asset specificity c. Uncertainty d. Volumetric interdependence
In a monopolistic competitive industry, firms can try to differentiate their products by
A. creating optimal perceptions of the product. B. choosing optimal locations from which the product is sold. C. enhancing the intangible aspects of the product. D. all of the above