Which of the following people is frictionally unemployed?
A. A person who is functionally illiterate and is looking for a job in the computer industry
B. A steel worker from Allentown, Pennsylvania who is still out of work three years after his plant closed
C. An autoworker who is laid off until business picks up
D. A homemaker returning to the labor market after a 15-year absence
D. A homemaker returning to the labor market after a 15-year absence
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Refer to Figure 2-2. If Vidalia chooses to produce 50 dozen roses, how many orchids can it produce to maximize production?
A) 20 dozen orchids B) 40 dozen orchids C) 60 dozen orchids D) 80 dozen orchids
Why are trade agreements between the U.S. and Mexico more controversial than trade agreements between the U.S. and Canada?
What will be an ideal response?
One reason health insurance is very expensive is because
A) it is likely a nearly fair insurance policy. B) it is subject to manipulation through market power. C) the government doesn't regulate the industry enough. D) it is likely an unfair insurance policy.
Following Example 8.8 in the book, the long-run supply of rental housing in most U.S. communities is more inelastic than the long-run supply of owner-occupied housing. Why?
A) Local rental housing regulations B) Limited demand for rental housing C) Limitations on the urban land available for rental housing D) A and C above are correct