Which of the following about unemployment is true?
a. The unemployment rates of the major European economies have been lower than that of the United States during the last decade.
b. Compared to the U.S., European labor markets are characterized by less extensive regulation and less generous unemployment benefits.
c. High unemployment rates over lengthy time periods are indicative of structural factors that are adversely affecting the natural rate of unemployment.
d. The natural rate of unemployment decreases when youthful workers expand as a proportion of the workforce.
C
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The above table shows the marginal benefit from submarines for the only two citizens of a country. Submarines are a public good. If submarines cost $100 a piece to produce, what is the efficient quantity of submarines?
A) 0 B) 1 C) 2 D) 3
How does a natural monopoly differ from a legal monopoly?
What will be an ideal response?