One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them
a. True
b. False
Indicate whether the statement is true or false
True
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Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in ________ in the price received and kept by sellers and a ________ in the price paid by buyers
A) a rise; rise B) a rise; fall C) a fall; rise D) a fall; fall E) no change; rise
What are the short-run economic effects when U.S. firms substitute labor outside of the U.S. for labor inside the U.S.?
A) The wage rate in the U.S. will remain the same, and the wage rate in the foreign country will decrease. B) The wage rate in the U.S. will increase, and the wage rate in the foreign country will decrease. C) The wage rate in the U.S. will decrease, and the wage rate in the foreign country will decrease. D) The wage rate in the U.S. will decrease, and the wage rate in the foreign country will increase.