Unemployment caused by a recession is called:
a. structural unemployment.
b. frictional unemployment.
c. involuntary unemployment.
d. cyclical unemployment
d
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Refer to Figure 4.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, if the market quantity demanded is 15, the price must be
A) $0. B) $6. C) $9. D) $15.
What kind of market runs most efficiently when one large firm supplies all of the output?
a) a natural monopoly b) a network c) perfect competition d) imperfect competition
Perfectly competitive markets tend to have a ______ number of sellers and a(n) ______ entry.
a. large; easy b. large; difficult c. small; easy d. small; difficult
Reform of a country's trading system, including the reduction or elimination of trade barriers, is an example of
A) an orthodox stabilization plan. B) a heterodox stabilization plan. C) import substitution industrialization. D) structural reform.