Which type of unemployment leads to a natural rate of unemployment above zero?
A. Frictional unemployment
B. Cyclical unemployment
C. The natural rate of unemployment is always zero.
D. Unemployment of government workers
Answer: A
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If an economy cannot produce more of one good without producing less of another good, this implies that which of the following has been achieved?
A) allocative efficiency B) minimum marginal cost C) PPF efficiency D) production efficiency E) maximum marginal benefit
Given that Tamar is a risk-averse person, she might accept a bet with a 50 percent chance of losing $100 today if she had a 50 percent
a. chance of winning $120 in two years and the interest rate was 11%. b. chance of winning $114 in two years and the interest rate was 7%. c. chance of winning $110 in two years and the interest rate was 3%. d. None of the above are correct; a risk averse person would not accept any of the above bets.
A single-price monopolist with a positive marginal cost will maximize profit by producing where
A. demand is price inelastic. B. demand is price elastic. C. demand is unit elastic. D. Any of these may apply.
Demand-side market failures occur when:
A. the demand and supply curves don't reflect consumers' full willingness to pay for a good or service. B. the demand and supply curves don't reflect the full cost of producing a good or service. C. government imposes a tax on a good or service. D. a good or service is not produced because no one demands it.