Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 5-4. What does S2 represent?
A) the market supply curve that reflects external cost B) the market supply curve that reflects social benefit C) the market supply curve that reflect private cost D) the market supply curve that reflects social cost
When you watch a professional football game, you may see the Nike swoosh on the players' jerseys. When you see people on the street, you may see people wearing Nike T-shirts or Nike shoes. It seems, at times, most everybody sports that swoosh. You are likley to say: "Gosh, Nike must be a monopoly.". But think twice. Is it? To define the market it's in, it would be most helpful if you had
information concerning a. its prices relative to those of other firms producing similar goods, such as Reebok b. the shape of its demand curve c. its cross elasticities of demand with other goods and its market share d. whether or not brand loyalty exists e. whether it advertises or not
How can a health insurance mandate help in reducing the problem of adverse selection in the health insurance market?
What will be an ideal response?
In a natural monopoly, throughout the range of market demand
A) marginal cost is above average total cost and pulls average total cost upward. B) marginal cost is below average total cost and pulls average total cost downward. C) there are diseconomies of scale. D) average total cost is above marginal cost and pulls marginal cost upward.