________ unemployment arises from a mismatch of skills and jobs

The Atlantic City Expressway is a highway that runs from outside Philadelphia to Atlantic City, New Jersey. It is notoriously congested during the summer weekends when many people are driving to the beach about the same time. The marginal private cost for a driver of driving on the Expressway includes

I. the cost of gasoline. II. the cost of increasing congestion for everyone else. A) I only B) II only C) Both I and II D) Neither I nor II

Walter rents some ice time at the local hockey rink for 2 hours. After skating for an hour, he finds himself cold, tired, and hungry. If Walter decides to skate around for the other hour before leaving, it is likely because he:

A. is weighing his opportunity costs of the second hour against the benefits of the second hour of skating. B. is focusing on the sunk cost of the rink time. C. is ignoring the sunk cost of the rink time. D. None of these is true.