Markets fail to allocate resources efficiently when
a. prices fluctuate.
b. people who have property rights abuse their privileges.
c. property rights are poorly enforced or not well established.
d. the government refuses to intervene in private markets.
C
Economics
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The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of
A) frictional unemployment. B) structural unemployment. C) hidden unemployment. D) cyclical unemployment.
Economics
The difference between the value of a good to sellers and its price is known as: a. consumer surplus. b. producer surplus. c. demand
d. supply.
Economics