Features of the labor market that are likely to cause structural unemployment include all of the following except:
A. labor unions.
B. differences in the skills and experience of workers.
C. minimum wage laws.
D. unemployment compensation.
Answer: B
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The concept of adverse selection helps to explain
A) why collateral is not a common feature of many debt contracts. B) why large, well-established corporations find it so difficult to borrow funds in securities markets. C) why financial markets are among the most heavily regulated sectors of the economy. D) why stocks are the most important source of external financing for businesses.
Which of the following categories accounts for roughly 70% of all federal spending?
a. Regional development, law enforcement and the judicial system, and administrative costs b. Transportation, housing, education, and income support for the poor c. International affairs, science and technology, and natural resources d. National defense, Social Security, health care, and interest payments
Personal consumption accounted for $12.3 billion in 2015 in the United States.
Answer the following statement true (T) or false (F)
Why do people tend to eat more at all-you-can-eat buffet restaurants than at restaurants where each item is purchased separately?
A. Once the all-you-can-eat meal is purchased, consumers view additional trips back to the buffet as having a price of zero. B. MU/P is consistently greater at all-you-can-eat restaurants. C. People who eat at all-you-can-eat restaurants do not experience diminishing marginal utility. D. Food at all-you-can-eat restaurants tends to have fewer calories, so consumers feel the need to consume a greater volume of food.