Full employment is not considered to be zero unemployment because
A) some people do not want a job.
B) there are not enough jobs for everyone who wants one.
C) some cyclical unemployment always exists.
D) people do not find jobs instantaneously.
D
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All of the following are devices that governments can use to achieve a more efficient allocation of resources in the presence of external benefits EXCEPT
A) vouchers. B) private subsidies. C) marketable permits. D) public provision.
An economic theory claims that a rise in gasoline prices will cause gasoline purchases to fall, Ceteris paribus. The phrase "Ceteris paribus" means that:
a. other relevant factors like consumer incomes must be held constant. b. the gasoline prices must first be adjusted for inflation. c. the theory is widely accepted but cannot be accurately tested. d. consumers' need for gasoline remains the same regardless of the price.