Except for recessions, the duration of unemployment for the typical person lasts
A) less than six months.
B) six to nine months.
C) over nine months.
D) over one year.
E) over five years.
A
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Consider the market for automobile transportation services, which are produced by taxicabs, buses, and companies like Uber and Lyft. Suppose that the federal government imposes a tax on producers of transportation services, and a separate tax on consumers of transportation services. What would you expect to happen to the equilibrium quantity and price of transportation services?
a. The equilibrium quantity decreases and the equilibrium price decreases. b. The equilibrium quantity decreases and the equilibrium price increases. c. The equilibrium quantity increases, and the change in the equilibrium price is ambiguous. d. The equilibrium quantity increases and the equilibrium price increases. e. None of the above.
Refer to the figure above. What is the consumer surplus after Lithasia opens up to free trade?
A) $1 B) $12 C) $15 D) $32