Which of the following causes the unemployment rate to understate the true extent of joblessness?
A) Many full time workers really want to be part time workers.
B) A drug dealer reports herself as unemployed.
C) Persons who collect unemployment benefits report themselves to be searching for a job.
D) Discouraged workers are counted as unemployed.
E) Discouraged workers are not counted as unemployed.
E
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A single-price monopolist will always produce where the elasticity of demand
A) is greater than 1. B) is smaller than 1. C) equals 1. D) equals infinity.
Medical research helps to develop better treatments for neuromuscular disease. Medical researchers are constantly in search of funds. Many in the public, however, are unwilling to contribute money toward neuromuscular disease research until a member of their own family suffers from a neuromuscular ailment. If left strictly to the private market, it is likely that there will be: a. an
overallocation of resources to neuromuscular disease research, relative to the efficient level. b. an underallocation of resources to neuromuscular disease research, relative to the efficient level. c. an efficient quantity of resources devoted to neuromuscular disease research. d. an efficient quantity of resources devoted to neuromuscular disease research.