When individuals are unemployed because they lack the qualifications to fill available jobs, this is called
a. frictional unemployment.
b. natural unemployment.
c. cyclical unemployment.
d. structural unemployment.
D
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Which of the following is a test of the statistical significance of a particular regression coefficient?
A) t-test B) R2 C) F-test D) Durbin-Watson test
Suppose that a monopolistically competitive firm is in long-run equilibrium. The firm's demand curve is tangent to its average cost curve at Q = 25 . Average cost is minimized at Q = 35, where average cost is $50 . Which of the following is true?
a. This firm charges $50 for the good. b. This firm charges more than $50 for the good. c. This firm charges less than $50 for the good. d. The firm has excess capacity at all output levels greater than 35 units. e. Average cost is $50 at the profit-maximizing output level.